I've done the math on a few dozen of the buildings and individual units for buyers and have rarely found something that will truly make you more than a 4% cap rate.

 I would recommend Puerto Rico , From a business standpoint it’s a good real estate investment for Buying multi family properties you’re getting properties for 20 $30,000 at cap rates 20-30.  

My question is do I run the numbers on the SFH as if it were by it self, then run the numbers on the trailers in park and take the average of the 2 cap rates? 

Where does the depreciation recapture get capped?

The obvious downfall in my mind is that it's capped at 50k. 

It knee capped me financially.

You can get 70% - 75% of that 320k as a loan cap. 

Repeat this strategy every couple years.If you really don't want to buy a primary residence and instead you want to buy an investment property then I would recommend a new build in Casa Grande for under $300k, this will require a 25% down payment and buying the rate down a little to break even on cash flow, but will be a very easy first rental property as it will be brand new and will not require any cap ex for many years and by the time it does require cap ex you will have raised the rent and gained enough equity to do a cash out refinance.

- With talks of a cap on STR permits, I need to act fast.

This is an on market deal.Purchase price: $170,000Downpayment: 20% (34,000)PITI: $955Maint/Cap ex/Vac: $270Gross rent: $1800Cash flow: $1800-$1225=$575