Buying a new mobile home for rent on land I inherited

[Timothy Vaughan]

I've been kicking around the idea of buying a new mobile home and placing it on some land I inherited. The land has an old mobile home I would have to remove on the property as it has sat for the last 6 years.

The plan would be to buy a lower end mobile home such as the one I have listed here for around $30,000 and renting it for 600 a month.  With $7500 down my loan would be around $27,000.  That means the home would likely be fully paid off in around 5 years. If that works, I could easily buy another home and placing it on the 10 acres and renting it like I would the first. The goal would be that in 10 years, I have two fully paid homes netting me around $1200 a month.

http://www.wholesalemobilehomes.net/ardmore-new/tr...

Is this a solid investment strategy? What would my up front cost be for the trailer installation? I.E. septic, dirt work, etc? 

many thanks