Advice in Cedar City UT

[Alexander Murillo]

My wife are brand new to REI, college students without a lot of annual income (around $25k), but we have enough saved to start getting more serious. We are currently doing an awesome lease option setup towards a 3 bedroom single family home where our monthly "rent" ($900) is deducting from the price of the home without interest. We are house hacking with permission from the owner (he's motivated), leaving our monthly rent at $200, but we have been throwing as much more as we can at it since there is no interest. We plan on getting financed officially in Jan of 2020 (with cosigner if needed) when our annual income is much higher post graduation. It will cash flow around $250/month when we move out.

With this going on, after reading some articles on mobile home investing, I'm considering purchasing a mobile home in town outright, moving in immediately, renting out our room in the SFH immediately, fixing up the mobile home a bit to use as a future rental/seller finance, and then continuing with the SFH deal early next year.

Being so new, I really want to get my feet as wet as possible to get the experience, but I dont want to stretch myself too thin without having a ton of money to start. What do you recommend? Should I go for it if the renters are there? Should I look for a different kind of property (duplex or something) instead even if I have to pull more strings and make more contacts?