I’m anticipating little in terms of issues with this property for years to come.

I think your long term hold goal is a great mindset, I would be shooting for that goal of owning a few properties by the time you're 30.As for what to do next, I would recommend a cash out refinance as long as the rent on the mobile home would cover the payment.

The cash out refinance is going to offer a longer term (30 years) and usually a lower payment. 

So I look forward to finding out for myself, and I am HOPING I found something with long term positive results because over the past couple years I have been trying to find "that right investment".

Each carry a different option in terms of Max LTV, Rate, and overall cost.

How about renting out a house to someone else with a long term lease. 

FYI we've changed our approach entirely and have lower fee initial entry points to avoid the challenges of long term project based arrangements so we can catch issues much sooner.

I understand they sign a long-term master lease with a landlord, furnish the place then rent it out for more money.

I’m fine with this, for now, as a long-term investor.I don’t believe our current situation would enable us to qualify as Real Estate Professionals, which would result in massive deductions.

@Art Maydan If they are asking those questions now they are looking for leverage which they will do throughout the lease term.