I’m thinking I’ll aim more for properties with small rehabs ($5k or less) so I minimize risk and ensure a renter is put in place ASAP.

Due to trailers being owned by tenants and the others being rent to own, maintenance should be minimal to nothing.

@Steve Hyzny makes some good points - Minimize risk is good but you can’t eliminate all risk when you grow and move beyond your comfort zone.

I have seen how some sellers minimize expenses in order to get a price bump when selling. they say they expenses are 25% (e.g.) but they dont reserve nothing for future capital expenditures, that will be needed to do for the property runs properly.

It's the multiple mortgages.I have friends who have minimal debt history, maybe a car loan or some student loans, and they're well into the 800's.

I'm trying to focus on 1980+ to minimize big repairs/issues but most of those homes are at least $150k and don't seem to be cash flowing with a 20% down conventional mortgage.4.

Definitely want to minimize the amount of mistakes I make in the beginning.

Aside from purchasing three personal homes we have minimal experience in real estate. 

When we move in, other rooms will have minimal furnishings until the room is complete.

If it just needs some simple remodeling, you should consider to BRRRR that sucker or at the very least partner with someone to flip it yourself if the rehab is minimal.