In the "Manufactured" category, I see properties in Florida with very low prices and high monthly rent.

No, cash flow can be a bonus and a penalty at the same time. 

So for example, a 761 credit score will be in the 760-779 credit category, then going down to 740-759 and so on.2.

Every project will provided you with some good return depending on the resources that you and your partners put.Flips and house development are in a similar category so you can start with a flip, but as @Jonathan Greene said it can go though, so if you don't have an experience partner you should start small.

So for example, a 761 credit score will be in the 760-779 credit category, then going down to 740-759 and so on.2.

You step in and offer them a creative finance solution that looks like this: (these are real numbers btw):Seller asking: $275,000 for 3/2 Single family split level, 1400 Sqft, with bonus room in basementYour Seller Finance terms as follows:Down payment: $20,000 cashSeller carry back financing amount: $255,000Terms: 5 or 7 year note with balloon @ 2.75% (or any negotiated terms here)Principal & interest: $867.61 per month (wow!) 

The pension amount at age 39 is not enough for me to feel comfortable, so my long-term plans are to start a small business and invest in real estate to position myself where I don't even need my pension, and it's just a bonus.

Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.

No 1231 treatment.Third, with the cost seg study, you only get bonus depreciation if you didn't previously have an interest in the property. 

Our factories dissolved or moved in the 90's and 00's and Grand Rapids has reinvented its self as the center for medicine, education, technology and most importantly beer (Beer City).Grand Rapids Michigan has been in the top 10 for rankings in the country for almost 10 years in multiple categories.