That is the best option if you are truly trying to help a family member.you cannot get control of the mortgage, you can do sub2 but you are not in control, the bank could call it due if they see the property transfers title.The other way is for you to buy it from them at market rate, then rent it back to them at market rate.

Seems like a good option is STR during peak season and MTR in other times of year.

I am also a lender, with Chase Bank, but want to expand my knowledge on hard money and private financing options.

Just asking as most folks seem to think "giving it back to the lender" is always an option.

We looked at a couple different options as far as % downpayment and I figured I would refinance in the near future to help the payment get down lower.

If yu claim one it doesn't void the option to claim the other one.Provided you meet the IRS requirements for both, as a tax strategy, you could complete exclude a portion of capital gains under Section 121 and then defer the remaining capital gains under Section 1031 (@Dave Foster is a great resource for 1031 exchange). ..

When I asked my agent about options to back out, he didn’t really offer any advice.

Like that was optional? 

Several options you can explore to get the down payment capital: Solo401k; HELOC on personal residence or from equity of the SFR; Cash Value Life Insurance Policy; Business Credit; Private Lenders, to name a few.

Be sure to understand the financing options out there for mobile home buyers and if you opt to carry the contracts on the homes you sell you should do some research on Dodd-Frank regulations.