What's the local economy there like?

Less properties to keep up with and you create economies of scale. 40 units is minimal of full time manager and then a maintenance person. 50 units would be better or higher.

The exhaust of water should be far enough away from the house so that it doesn't recycle.

We do like 38141, 38115, 38125, 38133, 38134, 38135, 38128.That is by no means an exhaustive list, but if you are trying to invest yourself here in Memphis from out of town, I would look to those 7 zip codes first and then expand from there if you do not like what you see.Best of luck -

Then I realized what I really want is passive income to eventually quit my day job.....but first I need cash to pay off my debt....oh, wait you can carry contracts on mobile homes and they are cheap to get into...or wholesaling.....I'm exhausted now I need to take a nap lol.Seriously here are my goals:My net worth is about -110k , yes that's a minus sign.

If you made the interest only payment of about $1000, you would need to have a plan to refinance out before the loan ended. 12 months is actually on the long end of HML terms.Booyah what Jon said.Thirdendarily, you need to pony up 35% as with such a risky endeavor, we would only lend on 65% of the purchase price.. . .and because of this overinflated economy, I am advising my funders to only do 6 month terms with 5 months guaranteed interest.AS SOON AS POSSIBLE, you need to refi out from under the HM.HM is profitable when used wisely and strategically, and will bite you in the butt if not managed properly Why not get HELOCs on your current properties?

Economies of scale makes it better.Local banks might give only 20 year amort.

Perhaps a written plan, some information on the local economy, nearby competitors, and cash flow projections.

Is there any website in which I can see how the economy in LV is doing?

The economy in Redding completely died, and foreclosures were through the roof.