Numbers wise, I'd need a $75/sq.ft. builder on an improved (all site work, including septic and water taps provided) and permitted lot I would provide and my target would be $120/sq.ft. retail.

But you and I may have differing goals and resources as far as investing goes...I wanted turnkey and it was ok if it hardly cashflowed...we are investing for tax purposes and make money on that end...but think about who you want to be your tenant...do you want students?

How many actually have the resources to do anything about it even if they have a case.  

What resources can I use to find mobile home parks? 

Apart from that, there are gold nuggets from time to time.You might see a new method to try in these BiggerPockets blog posts on how to find deals online and offline:  https://www.biggerpockets.com/blogs/8814/72016-55-resources-to-find-real-estate-deals-onlinehttps://www.biggerpockets.com/blogs/8814/71506-27-ways-to-find-off-market-and-wholesale-real-estate-deals-offlineHappy deal hunting and reach out if I can help with anything!

New to area - whats a target area for 5-8 units Multi-family?

I am based out of Austin, TX but would be happy to connect you with some resources in your area for goals 1-3!

My main question was: When I'm looking at numbers (and say I'm targeting a MFU listed around $80k for instance), if I pay for the multi-family unit using a HELOC from my primary residence, do I load that number into my calculations as "cash to close?" 

Friend, you have just embarked on the whimsical adventure of missing the point.While milenials and their ideas have an important place in society, what I took away from Steve's comments to you was that the way in which you conveyed your thoughts seemed superior and egotistical....which doesn't fair well within this BP community, which is comprised of intelligent, creative, resourced, and experienced investors sharing ideas. 

The title is a bit open ended, but what I am referring to is the following as mentioned in the BP podcast on many occasions.Browsing unit listings in my target area and cold calling the person that listed the unit when it seems like a self-managed property.