Investing in multi-families (or any property really) will suck up a lot of your time as you will be building models, performing pre-deal analysis, obtaining financing, performing in-depth and technical analysis during due diligence, learning a ton, etc.

Has anyone used this model for getting started?

I do wonder though, because no one can predict the future (whether or not payments are made, a foreclosure can go through, a property can withstand a natural, or non, disaster) - aren't there assumptions made in every statistical model made for notes (any real estate investment)? 

The homes would be manufactured to HUD standards with the one exception that we are looking into a habitat for humanity type model where the homeowner is required to commit x amount of hours to the build.

Long-term buy and hold isn't the best business model for HML I don't think.

I first became actively interested in real estate about 18 months ago when my wife and I moved into a new house and turned our former primary residence into our first rental property.Over the past few months, I've connected with two friends who have similar goals, ideals, and values, and we have already acquired three SFR this year - with our current goals aligned more to a buy-and-hold approach - and are actively looking to acquire more properties that meet our model/criteria.

On the other hand, if you have a proven system you can model, thats a major upside.

If you decide that using an LLC is too complicated or risky, you can always unwind the LLC and use a traditional custodial model to purchase your property directly with an SDIRA.

What makes the most financial sense from a modeling perspective, leverage.

I am not trying to grow into that business model and have to do XX volume to stay afloat.