If you can make it you will gain a lot of knowledge and make some good contacts.

You have inside knowledge.

The mortgage broker seemed to be really knowledgeable about mobile homes and mortgages.It was an answer that provided me enough information to make my decision.

This is a great place to get the knowledge and contacts you need for success.

I have to disagree wirh @Engelo At minimal you need to understand how to do the repairs and have some knowledge of costs so the contractors dont rip you off or try to walk all over u.

@Kenneth Hynes Initially I'll be investing in the same local area where I'm working as an agent to capitalize on that knowledge.

A knowledgeable Broker shouldn't be undervalued as they can provide you guidance on market trends, contracts, regulations, etc.

Wayne, Patrick is correct as a licensee is held to a higher standard of care in dealing with the public, they are seen (blindly in some cases LOL) as having greater knowledge and dealing from an advantageous position, it's viewed that way in all states but rules vary. :)

Point is, if lenders were pushing the issue on enough of these cases, then someone less rational than you would likely have litigated it, at least to try to get an injunction to stop the foreclosure at the district court level.

The folks in the local REIAs are more likely to have this kind of knowledge for you.