@Jaysen Medhurst thank you the value of other homes in the area around this size is closer to $800,000 they are asking 575,000 for this one but it's been on the market for 130 days.

The zoning, lot size and proximity to the highway made it attractive to me.

Now add in the time to find and vet a property, complete a renovation (if necessary), and rent it out.Private lenders and HML are pretty much off the table right now, since you have no track record.You can absolutely find and execute a deal, just don't get discouraged when it takes longer than you think.

I am definitely open to sacrificing some things like comfort and room size.

So I was going to spend ~$50k on the renovation and I could spend $5k more to double the size of the kitchen & put in stainless steel appliances and it would be the best property for the money in the neighborhood - but it wouldn't get me more rent (plus a pool is a liability nightmare in a B- neighborhood)Good luck - those Podcasts listed earlier are awesome

I am getting used to the idea that there is really no such a thing as a “one size fits all” approach to real estate action items.

If they are good, and they protect your asset, collect your rent and manage all of the Maintenance for a reasonable price they are worth it if you have a decent size portfolio. 1-5 units is manageable by an individual.

I have a deal on the table for two properties but it's a partnership deal.

Let us also assume that the home does not have to be moved, is it a decent location with population, decent size/age/condition, and the parks application process and ethics are normal.When it comes to purchasing a mobile home with or subject to the underlying debt within of a park, it is a bit tricky because in most situations the bank will not allow the owner's name on the title to transfer unless the lien is satisfied.

The back and forth that's on the table relates to an additional amount calculated as Net Income After Tax x 2 Years x 75%.