Receiving a free house... help

[Andrew Baker]

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?

[Jerry W.]

@Andrew Baker, you need to look at your market.  What is a comparable mobile home selling for and what can you rent it for?  Another thing to be aware of is that sometimes moving mobike homes is tricky.  Some can fall apart, especially older ones.  Even if they hold together any new work done can be damages.  The older homes had wood paneling as walls, high fire danger, but help up well in moves.  If you have drywall, it has a much better fire rating but you can get cracks etc, as well as occasional water leaks etc.  If you can get $500 per month in rent but it only sales for $2000 then I would rent it for awhile.  If you move it to a trailer park you must factor in lot rent.