Putting Multiple Mobile homes on subdivided lot
I've been trying to find creative ways to invest in my area.
Please feel free to share experience or thoughts!
I'm wondering if anyone has done something similar to this example.
Purchase and subdivide a very inexpensive, improved 1+- acre lot into three, .33+- acre lots and put three mobile/manufactured homes and either rented or sold those homes. (Not starting a mobile home park)
I am looking in a rural small town where I believe the city would be willing to subdivide the lot and improve the area. (This city is in need of more affordable housing options and anything less than 200k sells immediately. Rent is in strong demand as well.)
Lots with teardown worthy houses can be bought for less than 20k with an acre+- in these areas.
Let me know if this is something you have done, something you have read about, etc!