But they don't have any foreign currency risk investing in Mexico or the Dominican Republic either because properties there are traded in US dollars as well.Counterintuitively, this is another advantage for countries like Mexico and the Dominican Republic.

There's more than one trade to put on.

From my perspective, when I started house hacking, I really enjoyed learning about all of the trades, but as you said-  it becomes harder to do all those things while building.  

Some may want to move and then you'll be left with an older, used mobile home which you may have to fix up or trade in for a newer, used mobile home depending on the condition. 

This isn’t an SEC traded investment, no liens or 1st positions, no personal guarantees on behalf of the GP, If you go back thru and show us your deal analysis versus your checklist you will probably see an investment marketed at 14% return which should have been Risk adjusted down to 8%.  

I'm seeing renovated inventory sit, then trade well below list in a large portion of the ATL metro. 

Yes, there are some trade offs, but also some great benefits.

Under the IRS rules, a person  qualifies as a real estate professional if: (1) more than one-half of the personal services the taxpayer performs in trades or businesses during the tax year are in real property trades or businesses in which the taxpayer materially participates, AND.....(2) hours spent providing personal services in real property trades or businesses in which the taxpayer materially participates total more than 750 during the tax year.Like @Greg Scott and @Russell Brazil mentioned above, I don't believe that you would qualify as a REPS, but if you are going to try it, make sure you document it very well (i.e. with some kind of proof, like time cards, mileage forms, and/or receipts, etc.) so that just in case you do get audited, you at least have something to provide to the IRS agent. 

I'm a specialty insurance underwriter by trade; therefore analyzing deals and numbers is my jam.  

Given equity is always more expensive than debt, in my view the additional finance charges were a good trade off.