Add court costs on top of your lost rent for a year or more and you quickly understand why it's better to just let them move and eat the cost of finding someone else.

A good power wash and coat of paint on the outside goes a long way too.You can get estimates from many mobile home-specific contractors that understand these needs if you are not going to do it yourself.Basic repairs on a decent old home can run between $2,500 to $15,000 depending on how bad of shape it's in.

Since its your first investment, understand it doesn't need to be a home run.  

Lack of understanding and a good CPA IMO...Work w/ a firm that specializes in working with corporations...not some old guy that works out of his house...

From my understanding, you can take a FHA loan out on a fourplex or less (ie triplex, duplex, SFH).

The broker you are supervised by, as well as the brokerage firm holding your license, would be similarly exposed, which is why many brokers will not hold the license of agents engaged in wholesaling.It is important to know and understand the legal landscape before undertaking any endeavor.  

I understand that ANY rental investment is going to be more work than I can imagine right now, but I have done some incredible things in the past, and, for my 3 daughters, have no doubt that I can and will do whatever it takes to make it successful.

Where is the best information I can get quickly to understand short sales ....

I'm not a realtor, however, I'm to understand there are quite a few professional expenses you'd have to pay to hang your license with a broker.  

Many of these are not particularly well written but you may learn something by reading and trying to understand a few.