A motivating factor is that I am not satisfied in my legal career and enjoy many aspects of real estate.

Many CPA's are knowledgable about the various aspects of real estate.  

Look at the various aspects of flipping for example:  you need to understand the construction trades; you need to have some program/project management capability to keep the job going; you need to have some sort of feel for market valuations; you need to understand something about financing unless you have lots of cash; you need to have some math and accounting ability to make sure you are making money, etc... 

Finding an agent that you are comfortable with is a huge aspect in being able to take the step to invest out of state.

The part that I had missed is that they are amortized often over 25 or 20 years, which brings down your principal much faster, so by the time you refi, even at a much higher rate, your payment is not so different, because your principal is lower.Another interesting aspect is that rates become negotiable with lenders when you loan sice grows into 7 figures.

In my underwriting I am always very conservative on the exit cap to make up for the appreciation aspect. 

How would you approach the financing aspect for modular dwellings?

Every aspect but the main ingredient to success flipping is knowing the market.

@Tiffany Elli make sure you account for more than just the financial aspects of the comparison.

It might not happen, but while I still know people who are buying, I also know other experienced investors (especially hard money lenders) who are pulling back right now and taking a wait-and-see approach.So it's worth considering an aspect of the same, at least as far as pure investment properties go.