I have a primary home and a rental near Portland, OR.

A home for our family.

The current owner is letting me take over the property as a tenant as long as I pay the water bill and the mortgage payment on it and whenever I decide I can purchase property for the balance of the mortgage  they are in no hurry for me to purchase the home as long as the mortgage is paid. 

It is worth what other homes that comp in the area.

Florida is a unique state for MHP law and the insurance has gotten very expensive there too.I recommend checking out @Frank Rolfe's mobile home university content if you haven't already.

So for example, if I can buy a new construction home for $400,000 (which was negotiated down from $435,000) then hopefully my $80,000 (down payment) was used to buy an asset which will be closer to $500,000 in a few years. 

I cannot assist w/ the acquisition of the property but do have an FHA product that is specific for home improvements.

Kick the tires of a couple of homes.

Hello,My wife and I recently found a property that fits all of the things we are looking for, perfect location, price, rooms, etc. except for one problem: The previous owner was a smoker :( Does anyone have experience buying/renting out/living in a home previously owned by smokers?

Tenant should be looking for a new home and moving out now.