Starting with MF properties is a solid choice.

In such event, Buyer agrees to cooperate with and assist Seller in connection with Seller’s like/kind exchange and execute an assignment of this Agreement to the qualified intermediary.

Goverment paid leases are hard to get out of when tenants have assistance.

You can make more money by holding onto homes in parks but it creates way more work and I don't believe it is worth it in the long run.3.

For example, if I buy property #1 for 300k and sell it for 500k, creating a $200K profit.

I am an owner of 2 rental houses I owned with my brother. He died and now the houses are in Probate including his separate house. I will be a 75% owner of the 2 properties we shared and a 50% owner of his separate h...

I was actually looking for places to use for a Housing and Urban Development (HUD) Veterans of America (VOA) program, aiming to create a spot for good cash flow while supporting a veteran.

If those were my choices, and I had just $40k to start I would wait till I could get more to enter a better market or put that money to use in just govt/private debt.

Given that you have good credit another idea would be to find an experienced flipper; create a joint venture. 

Which one is right for you is your own choice.