I've looked into them in the past as they would work well for me with low money down, i heard before that you had to pay monthly loan insurance(think it was around $100) and got nervous about it cutting into my cash flow to much.

I'm so excited, and extremely nervous! 

They spoke at one or our recent NARPM meetings and were extremely knowledgeable about the real estate business.  

Unfortunately I probably won't be getting a duplex or more as they are extremely scarce, so I want to construct a plan B so I'm not just sitting waiting for a MFH to come up. .

I am a risk taker but you are way beyond my game.Real estate investing is extremely risky to begin with but you are throwing in a variable that potentially is a time bomb waiting to explode.

Mostly low rents and C level neighborhoods. 

This is probably a cleaner approach, but I worry that a sale this low is going to devalue the neighborhood.

I want to get back on here and add value as I'm still a "novice" investor but the last 5 months have been extremely educational.

As doomsday scenarios go, this isn’t terrible.Now switch to my mobile home park and consider the same factors.Rent - low rent payers ($200 per lot for 15 lots),Credit – my residents probably have mediocre credit at best,Building – I own nothing here, as the residents own their mobile homes.Site Improvements – I own nothing here, as there really are no site improvements to speak of,Zoning – zoned for the parkReal Estate - an otherwise poorly located piece of ground jammed up against an airport.The seller/owner created the park 15 years ago and claims to have never had a vacancy, so if my doomsday scenario hits and all the trailers are wiped out by a tornado, I’m left with a poorly positioned piece of ground which I suppose I would eventually repopulate with mobile homes.So why consider this at all?

This is very different from my interpretation from listening to the BP Podcast and reading Investing in Real Estate With No (or Low) Money Down.