Investing in Mobile Home Relocations

[Rafael Paz]

Hello, This is my first post on BP but have been a long time follower/reader. I live in a small town in New Mexico and have experience doing a couple of BRRRRs. While looking for my next SFRs, I ran a cross a well maintained double-wide mobile home that has been sitting on the market for a while. I decIded to get creative and try to find a piece of land that I could move the mobile home to and either sell or rent. Luckily, I found a great location at a town 35 mins away that is selling only to “double wide mobile homes” with utility hook ups ready to go. The rough numbers looks like this: MOBILE HOME PURCHASE PRICE: $27K LAND PRICE: $9.5K RELOCATION: $5K REHAB/REPAIRS: $2K HOOK UP COSTS: $1K TOTAL= $44.5K Range of double wide mobile home value on street: $70k - $115k My question is, has anyone had experience with mobile homes and how they are inspected/appraised? What potential issues arise when doing something like this? Thanks for your input!