If you're going BRRR and not renting, then just get the standard HO policy.

Now, you can get a hard-money loan, purchase the property, do the rehab, and IMMEDIATELY turn around and refinance the HML into a conventional loan for a more standard interest rate.  

Make a criteria of minimum acceptable standards, and then never make any exceptions for someone who falls below your minimum.I hear time and again that people who are going through an eviction are doing so because they fell for a sob story or made an exception.

If you aren't trying to run a company, the standard double entry accounting method can be overkill.

Also, I am unable to "close" and/or move into the property until I have 30 days of pay stubs to back up my offer letter that I provided for pre-approval.Since your still in school and/or recently graduated with your bachelors degree... you just have to provide the bank with college transcripts to get past the standard (2) year work history requirement. 

Mobile homes are a real pain to maintain as there's no such thing as a "standardize part".

Looking to possibly buy a property for him to stay in plus rent out remaining space.Looking for something that would cashflow as a standard rental in case market turns down and I can't sell when he graduates

@Peter Bowen Great input, i have been trying for years to pencil the numbers on a multi's to make money even close to my singles, i think one of my hold backs is my own risk tolerance/debt adversity,  and I will not do partners, so its me and my wife. i currently am  running 23% debt on $1.1MM portfolio, and have set an internal cap of 40% I know this goes against most common belief, but its what i am comfortable with.

This is based on what you describe to me.Attic insulation should be R60 above ceiling and below floor R30 in your area, I doubt yours meets this standard.

I assume standard 10% vacancy and property management fees at 10% each and I am right at the 10% cash on cash mark (15.2% after adding back the property management).