For example I was looking at multi family properties and it would seem that a minimum going a bank route is 25% down with a 20 year term with a 5 arm and 10 year ballooon with the option to extend another 10.

I've read about having to keep the money at arms length (3rd party) and not being able to actively manage properties.

Here, that is an “ARM” or adjustable rate mortgage.  

Here are a couple examples that I've worked with.Example 1 - South End of Sewell - BRRR Duplex (2/1 & 2/1)Acquisition and Rehab was $200kARV: $240kIn the deal for $20kRent Roll : $2800 a month(1400 a unit)Mortgage: $1400 a month (200k @ 7 %)Taxes: $516 a monthInsurance: $100 a monthLicences/Sewer/Gas: $20 a monthVac/Capex/Repair: $316 a month (that's a lot but lets be safe)Cash Flow: $448 + you have 40k in equity and a fat safety net each month due to an accrual rate of $316 a monthExample 2 - Lindenwold SFH - BRRR 4/2Acquisition and Rehab was $110kARV: $140kIn the deal for $5kRent Roll : $1700 a monthMortgage: $700 a month (105k @ 7 %)Taxes: $441 a monthInsurance: $90 a monthLicences/Sewer: $15 a monthVac/Capex/Repair: $200 a month (that's a lot but lets be safe)Cash Flow: $254 + you have 35k in equity and a fat safety net each month due to an accrual rate of $200 a monthThe Sewell usually has ideal tenants and very little headaches.

I am curious, have you had any concerns with your personal safety buying mobile home parks?

While it may not have been the best thing for my bottom line, I know it was the right thing to do for people's safety and so that I could offer not just an apartment, but an AWESOME place to live.

Be sure to follow safety instructions on the heat tape, but generally you can wrap the pipe and heat tape with insulation to protect it from drafts and keep the heat where it should be. 

You can learn more about it here https://www.stpaul.gov/departments/safety-inspecti...I have only dealt with 2 potential evictions so I wouldn't say I'm a pro with this question but from what I understood is that you can expect the process to take 3-4 weeks depending on the court schedule and the speed at which you can file. 

I'm waiting for more information from the agent about planned developments in the area, safety, demographics, etc.

Local banks not going through Fannie/Freddie might be able to even allow you to only put 20% down but the loan terms may not be as good (7 or 10 year arms a lot of times).Most important thing is making your starting capital go as far as possible.