Tiny Homes in SC, Land in Avon Park, Fl, Home in Baltimore, MD

[Jacqueline Gonzalez]

Hi, My name is Jacqueline and I have a few challenges. 1) A possible opportunity came up for me to own a tiny home ranging in prices, an example $127,000 without appliances, lot rental of $450 and for now I am not sure about the management fees, insurance fees, and etc. Question is what is your opinion about Tiny homes and should I even considered it since I am renting ? Should I invest or purchase a home or condo to live in. I prefer to invest. 2) I have a home in Baltimore and right now it is rented out and no cash flow, I was wondering if I should sell to use money to invest in Florida since I don't live there anymore, or should I invest there since investing in Baltimore seems like a more affordable option. By the way I would love to keep my home for my daughters to inherit. I have a renter who has been living there for 2 years and she plans to stay for another 3. She is basically paying the mortgage which is $1250 and she pays $1400. What is left goes to fixing things. 3) I have land in Avon Park, Fl, this land was given to me. It is paid off and just paying taxes. I could build a house there or I can sell land to take that money to invest in Florida or Baltimore, once I think more about my options. Any suggestions on what I can do with land or sell? Anyone familiar with Avon Park? I am about to talk to an agent soon, but have not done so yet. 4) Also, this is my position, I bring in about $25,000 a year but half is from work and other half is from my ex husband. Good credit score 710, it goes up and down and DTI is not good, I have $27,000 debt but I am working on that now. My daughter has a job but she works part time and is finishing her AS degree so by Sept she will have a full time time but she is only bringing in $10,000, credit score of 740 and $15,000 saved and about $3500 debt in good standing, it is a school loan. We were told by a lender that she has to at least make $20,000 yearly to possibly purchase a home. So we want to combine our income, purchase something with her name but is it really doable? We are looking for a 2 bedroom and 2 baths or 1 1/2 bath condo or townhouse with low HOA fees and low down payment. Or townhouse with no HOA or low HOA fee. Honestly, how can we get into something now or should we just keep saving, pay debt down, and wait till she gets this new income job making at least $25,000 or more and I will increase my income as well. I just can't think and I believe it is because I am feeling overwhelm since I just recently got divorce and I am trying to make it on my own. I was married for 25 years. I am determine to change my mindset. I don't want my daughters to ever be in the predicament that I am in now. They are going to be financially literate, I must break this cycle of financial ignorance. Please any suggestions. Thank you