Purchase price: $70,000 Cash invested: $70,000 Raw land was purchased and divided into 1 acre lots for mobile home rentals.

2 bed 2 bath with a detached garage with a 1 bed 1 bath above itThe property has a loan on it, I believe dividing it into two parcels would be difficult.  

But if you’re aiming for the highest return, short-term rentals can be a great option.My current strategy is to find a single-family home with an “in-law” layout, something you can divide in two, add a separate entrance, and rent out the master suite or one half of the home on Airbnb while living in the other.

You may need to sub divide the property. 

Condominiumization is the process of:Legally dividing a multi-unit property into individual ownership unitsCreating a condo map and HOA structureSelling each unit separately while retaining shared ownership of land or common areasThis isn’t new — but under Washington’s updated laws, it’s becoming far more relevant and profitable.📈 Why This Strategy Works NowUnder House Bill 1110:You can build middle housing on a single lot (up to 6 units in many cases)But the resale value is limited if you can only sell the whole building to one buyerCondominiumizing changes the game:Sell each unit to individual buyersCreate affordable homeownership options for first-time buyersUnlock maximum value from one projectExample:A fourplex that might sell for $850K as a whole could instead sell for $325K x 4 = $1.3MMore profit.

Gross rent multiplier (GRM) A method that divides the purchase price by the gross annual rents when the property is 100% occupied.

If yes, sub divide into 1/2 acre lots and put used mobile homes on each.

., and divide the rent accordingly. 

Divided by purchase price of $1.3mm (using all cash), would be a 5.5% cap rate.

Maybe even find a way to mark a dividing line to avoid arguments.Be prepared to fence it off if it becomes a problem, but it will probably work as is.