@Steven Picker, your foreclosure and underwriting concerns are valid, but that's going to vary hugely from state to state.

@Steve EllisonWell, for better answers about your tax concerns, need to speak with a CPA.

Any insight or future surprises I should be concerned about here?

So our family found a pretty good property which in my opinion is at the right price to start out....but I have a couple concerns so I was hoping the group could guide us...1.  

My only concern is that perhaps a few weeks will go by until I get sponsorship and that's time I could've used to market the property and save money on taxes. 

2) Since there will be at least one person trying to get that easy post to rack up their post tally by briefly and ambiguously  says "go see a state specific RE attorney," one tip that I would appreciate that comment at least say which state's laws I should be concerned about, and thus, know which state to find and attorney in?

What should I be concerned about with a 147 year old home?

My experience is that banks don’t lend on mobile home parks.

It is all about efficientcy and providing the tenants with more immediate service to their concerns.  

We are interested in wholesales, lease options, mobile homes, and buy and hold.