Deal Analysis, 2 mobile homes

[Carol Burns]

2 mobile homes on one 2 acre lot.  Should get $1400 rent each (at least).  Price $204,000.  Going to offer $30,000 down with 8 percent on the remaining $174,000.  Costs:  mortgage 1160, taxes and insurance 300.  So the profit should be $1340, which would be over 50 percent on my 30k.  Am I missing something?

Also, is it possible to get a loan on something like this based on rental income?  I don't think I have enough personal income to qualify.