I agree with you in many ways - when I was doing a recent search, the hotter areas were difficult, because the numbers just didn't work out.

@Jay DeCima What I'm going to do is work out an agreement with the seller on the 6th house so it's included in the deal but the brother can live there as long as he pays something monthly that goes towards taxes and not necessarily rent.

Hi am Bob I live in a Nebraska am 61 years old and I been looking at doing this for years but never got out of the boat LOL . any way i been reading all i can and I reallywould like this to work out .

Put that 10K difference back in your pocket.Financing a used mobile home is possible with well qualified buyers, but be prepared to carry the note as a backup if that doesn't work out.

A 3.5% down fourplex might work out better for you than buying two duplexes.  

The owners and I were able to work out a deal because they need to get this off their books by 12/30/16.

Since the previous agent is also my current property manager, I am worried that if we go ahead legally and it does not work out, I am left without a property manager and with very little knowledge of the neighborhood.

I know this will all work out.

About the only time you would deal with the previous owner is help clearing the title as john says, if they still occupy the property, or they finally wake up to the fact their property has been foreclosed and you work out a deal for them to keep the property.

The great thing about what happened is that you took action even though it didn't work out.