The only downside I've come up with that i would be forfeiting my county's homestead tax exemption discount.

Thanks @Tom Ott, those will be my biggest areas.

The biggest challenge ive run into so far is finding good leads.

Truthfully, I think this is the biggest reason people (and partnerships) get into trouble.  

You also get the some of the same benefits of a family; accountability with paying and mitigating potential damage being the biggest pro.

Biggest mistake I made initially was buying a home for 130k - it's a good home but there's only a small pool of tenants who can afford the rent I'm looking for.If you're thinking of buying a rental for cash flow purposes, please don't spend more than 80-90k on you first single family home - I promise you will cash flow much better and have a much larger group of (perfectly fine) tenants to choose from.I also don't recommend buying a home for less than 50-60k, as that will just cause too much tenant drama/repair headaches.

I know this can be a downside, as the time it takes can be a 'turn off' to sellers. 

The part that no one has mentioned is the downside risk.  

That likely costs the same for a small park as it does for a larger one.The biggest challenge you face is the size, it is small.  

My biggest RE regret is lowballing a $330k 4U brick rowhouse by 5% just when the market was taking off in 2000.