My question is whether it’s a bad idea to put 20% down and continue renting my own place because of the convenience factors including being able to walk to work (and I work long/late hours).

You can offer to lend the seller money to stop the foreclosures. 7 or do a lease with an option to buy - making up the back payments that would be considered you advance lease payment.Always look at the property if you have intentions of bidding at the auction (this can be tricky because you need to do that with the owner's permission - do try to build a rapport with seller  - also look at the foreclosure suit to find out what the bank is looking for and if there is a second mortgage or other liens.At the court house steps when the auction take place you need to be well prepared with your certified funds but more importantly you need to know the fast sale value of the property - you don't want to pay retail.Get to know your competition - there will be professionals at the foreclosure auction looking to capture some serious equity.

I think this gets down played, but getting to live in your desired location is a HUGE factor.

I agree with Robert that it'll be a good idea to determine the type of build you'll want to pursue and also the locations where you'll get the best bang for your buck.

Talk to your realtor and ask about renos factoring in time and cost.

Build prices today depend on who your builder is and where your building is including real estate prices etc.

The best way to get started here (or anywhere) is to start by purchasing your own primary home because it's easier to qualify for the loan and it gives you a chance to build equity and you can purchase more house with a lower down payment.

Check your local building codes regarding what is required for an exit vent for one of these things.

Location will be a major factor in determining the potential strategy for the park, as well as projecting how the park will perform.  

Good afternoon Bigger Pockets Fam, my name is Jamall and I’m a newbie and I’m looking forward to networking, building, and adding value to the community.