Purchasing a mobile home to live in, then rent out when I’ve saved more

[Chase Wiles]

Hi all!

My wife and I are currently paying about $1,800 in rent for an apartment and thought about the possibility of purchasing a manufactured home in Mesa (C house in C+ neighborhood) for about $75,000+rehab when our apartment lease is up. 

The monthly rate should be significantly less than what we have to pay in rent, allowing us to simultaneously build equity and save more for real estate properties and/or a better house to start a family in.

Theoretically, when we've saved up enough to purchase a nicer property, we could move into that and rent or sell out the manufactured home in Mesa.

Thank you in advance for your input!