Should I purchase a mobile home and live rent free?
To keep this short, I'm in my early 20's and make ~ $3,000/mo after taxes. I'm considering buying a mobile home and paying it off quickly, thus living rent free. I could take the addition $1,000/mo that I'd usually pay in rent in my market to save as a down payment for future real estate endeavors. Ultimately, buy a mobile home for myself and begin putting investments into an LLC to manage my tax benefits.
My reasoning behind this is because I'm so young and my job is a little sketchy. I've been laid off for 8 months before and barely survived in a warehouse with my high rent (before I got a better mindset).
I feel like buying a mobile home would be nice. I could spend the next 10 years investing without worrying about a rent payment, build my portfolio, and buy a nicer home down the road. But everyone seems to hate mobile homes. Is there an exceptional case, like mine?
By the way - I know and am very familiar with house hacking. I live in a college town and it would be a great opportunity, but I'm just worried on my job situation. It seems pretty stable right now, but I don't want to gamble with it. If I were to house hack as my first deal, not find good tenants, lose my job..... I'm sure you see the downward spiral. I feel the mobile home approach in my situation is actually well thought out.
ANY input it welcome and appreciated, good or bad. Thanks!