Manufactured Home Strategy and Deal Analysis

[Geoff Schackmann]

Hi all,

I am looking for feedback on a deal I am working on.

I have a 2 bd / 1 bath manufactured home, all cash for $17,000, which does not own the land.  There is a housing shortage in the city and rents for this are going for $900.

Manufactured Home 2bd / 1 bath 

Current: $17k cash

ARV: $25,000

Rehab: $3,160 

Space rent: $515

Rent: $900

Tenant pays water, electricity, internet, etc

It feels like a good buy and hold strategy because rental are in such high demand in the area.  Buy I am interested in pulling the initial investment out in 2 years.

I am thinking of Lease Option possibly too