I've seen camp sites with small cabins or unique structures all spread out and literally just 1 or 2 rooms with a communal bathhouse.Is this a growing trend and if anyone reading this does something similar I'd love to connect with you.

Keaton,I had a similar thought process a few years back when I first got into my finance career.

I'd like to know if the areas above are similar in building cost.

Just make sure to verify your ARV carefully — if the comps you’re using are renovated to a similar standard (especially kitchen/bath/deck/roof), then listing around $200K–$210K should be realistic.A couple tips:•If it’s a 4-bed, try to highlight that in your listing — those are more rare in Troy and can help you stand out.

I did something very similar to what your friends did.

I’m also not a fan of a new build to rent which I believe in most cases is a similar financial move to purchasing a new car. 

The strategy is similar to a fix-and-flip, but instead of rehabbing a house, the plan is to develop a piece of land and place a brand-new manufactured home on it for resale.I’m a licensed real estate agent and a manufactured home dealer here in Georgia.

Quote from @Stanley Yeldell: Great question—this setup comes down to how you value the credit risk vs. the active labor.Since your partner is only providing a personal guaranty (not cash), and you're handling the rehab + management, a 10–20% equity share for them is common and fair in similar deals.You could also structure it so they receive a guarantor fee or a smaller equity kicker instead of permanent ownership if you'd prefer more control long-term.Whatever you decide, just make sure the roles, responsibilities, and exit strategy are clearly spelled out in the operating agreement.

Have any of you had similar experiences?

You're absolutely right to consider how refinancing could play out after modifying a property for higher cash flow.Here's the Refinancing Reality for Co-Living Homes:You nailed it — a 7-bedroom SFH often doesn’t appraise the same way a typical 3-bed would.Appraisers use comps of similar homes in the area.