Realistic Expections for Newbie

[Jared Lyon]

Hello, 

I’m in the process of closing sale on some land I inherited.  I want to get into real estate but I want to be realistic.  I’ll have somewhere between 40-60k to work with.  

Which would be best?

1. Searching for homes under 100k (easy in my area in Kentucky) and turning to rentals (maybe) hud?

2. Buying and flipping homes (have a friend who’s a contractor asking me to do this 

3.  Possibility of buying trailer park   A guy mention he wants to sell. Around 17 units all rented.  Mostly mobile homes beside 2 are lots only.  My worry is insuring them and also dealing the clientele.  

Hope this isn’t a dumb questions.  Thanks for your time. 

[Jared Lyon]

Ok. My cpa Says no tax because it was heirship.  I should have 40-50k to work with. Going pay some medical debt and I’ll be debt free.  Now just want to build assets and other income for retirement.