You also can't determine what rent rates will be in 2-3 years so it's risky to lock in a rate and potentially be way below market.

It's just not going to function quite as an MHP would but still having knowledge in that space will allow you to determine if this would be profitable.Not buying just because you're afraid of having park owned homes is a bad idea.

You might run into adequate HVAC capacity and needing to run additional ductwork (then determining a pro-rata billing set up perhaps) or even an additional unit with separate water meter just the same. 

I think I prefer mentality, even though they are almost synonymous.

We have been wanting to invest in real estate for years and are determined to push through any obstacles but want to be smart about it!

I am reaching out to get connected with great contractors that understand the investor mentality for a rental unit.

A red flag is something that needs to be investigated to determine if there is mortgage fraud or not, it happens all the time. 

Be met with NO judgement in this group because we are all in the beginning stages and we will support one another as we all learn and are mentally prepared to achieve GIGANTIC dreams! 

How I can determine if I am way overpaying for this property??

The rents used in determining self-sufficiency can actually include the unit you are going to occupy as well.