100k and two options

[Matthew Strack]

Good afternoon,

Me and my wife are pulling out a cash out refinance from our primary residency, that is paid off. This would update the house and consolidation our loans, but we are trying to get out of the middle class trap so we want to purchase our next rental property.

We will be able to pull out 100k for investing purposes. Should we invest in a manufactured home or finance a house?

I could purchase land, mobile home, and have it rent ready within 3 months. It could bring in $1300 a month.

Or should I buy a house from auction that I probably could purchase it for less that estimated vaule. The house would push out the same 1300 a month, but I would have a mortgage loan.

I have a ton of pro's and con's about these options, but I'm stuck on what is the best investment strategy. What is your opinion?