Buy and hold single wide trailer

[Andrew Gudmunson]

I'm looking into purchasing a single wide 3 bdrm trailer in the area I live. The asking price is 24K and rents for this type of dwelling in my area tend to be 800-850. While the cash flow potential seems great on paper, I'm curious to hear from somebody with experience what kind of expectations I should realistically harbor going into this. I don't have the exact amount for lot rent but $300-$330 is pretty typical in this area so I decided to run my numbers at $350 to stay well on the safe side. I would be able to use a line of credit to purchase the property outright, but I'm curious if it would be more beneficial to finance it and save more of my investment money? Any info or experience anyone can share will be greatly appreciated!