Flipping a mobile home with land

[Stephanie Braden]

Hello!

My husband and I are buying our first home. It is a 2240 sq ft. Mobile home (on block foundation) with 4 bedrooms and 3 baths. The property contains five acres, a garage, and a barn with six stalls. This place needs light/medium work , remodeling, and landscaping. 

We were going to buy this place as our first home, but are unhappy with it. I had the idea to buy and flip instead for a profit. We are buying for 169 K, and it appraised for 190 K.

We have 5,000 to invest in remodeling and repairing. We have many doubts, as this would be our first flip, and we are very unsure about the resale value and if it would earn us a profit.

We would love advice. 

This home is in sadieville, Ky.