At what point does it change from land with mobile homes to MHP?

[Ashley Swansend]

I am considering buying a chunk of cheap property in my area and putting a mobile home on it to rent out, I want to start with 1 MH and my goal would be to find a large enough piece of property that I could eventually add maybe 2-3 more MH’s onto it over a period of time. I’m not really looking for a park, just a low initial investment that will bring in a little extra income over time. Obviously I want to try to find something that already has a well, electric, and septic system set up. That also brings me to wonder if I will need to drill an additional well and septic system when i add the next home?  

Also I saw a 2 acre lot just outside of the nearest city for about 12,000 without a well drilled or septic or electric, but the location seems beneficial. 

There is a 5 acre lot in a more rural area going for the same price and it has the electric, well and septic already, but there is a mobile home already on the property that would need a full teardown, also it’s rural location could make it more difficult to rent out. It may be worth it though, I actually used to rent an apartment right around the corner from this place, it was in a four unit building that’s as almost always at full occupancy, as far as I remember the entire 2 years I lived there only one apartment was ever vacant and it was rented in about a months time.

I found a 3bd 2ba MH on my local Craigslist that seems to need minimal work, the previous owners did major updating, asphalt roof was replaced about  7 years ago, new furnace, new floors and paint. I would just have to replace a portion of the exterior wall that had an addition they removed when they prepped it for transport. They’re only asking $3,500 and I may be able to haggle with them.

I’m hoping to accomplish this with a budget of about $20,000, with a little wiggle room. I want to avoid any type of loan or Mortgage.