Receiving a free house... help
So I have been anxiously waiting to get started in my investment career, but my lack of funds has prevented me from just jumping in and buying a home right off the bat, until now.
My mom is (finally) moving out of her single wide trailer and has agreed to give me the home absolutely free. As stated it is a single wide manufactured home, not too pretty on the inside or out but livable. She tried to trade it in a few years ago for another mobile home but the trade in value was only $2000. I can keep the home on the property it is on now for as long as I want, just cant rent it here (land owned by family) so to rent it out ill need to a.) Put it in a park and rent. b.) Buy land and rent.
I will be fixing it up first though, mainly cosmetics and duct work, but I am assure with what path I should take to get the most out of it.
Should I rent or flip?