Hi BP, short overview, I set a goal to buy my first property this year which I intend on living in for 1 to 3 years based on what my first purchase is. 3 years if it is a "nicer" home, 1 year if it is a starter home that I can fix and rent. I have been accumulating a healthy amount of cash, and based on my market, even if I go with a "nicer" home to start, I still have plenty of cash for another smaller property. The biggest influence on my decision is that we are planning on starting a little family within the next 2 years and I do not want my wife to have to go through some of the unpleasantry associated with a BRRR while pregnant.
Now we get to the title of my post. I currently have my agent doing a walkthrough and sending me videos of a manufactured home, on a 1300 sqft, 3 bed 2 baths, well under my max budget of 120k. It is priced at 87k but located in a nice quiet neighborhood. Aside from the fact that it is a manufactured home, and some of the research I've done on it, there haven't been any red flags to me and my situation.
My question is if anyone has any experience with manufactured homes and what may be some things to look out for. I've already contacted a lender that specializes in Manufactured homes from a lending perspective.
Thanks in advance!