so dont chase a deal just to win it and end up losing any profit, don't waste time or energy dwelling on deals you missed.

@John Knisely, Do you have any recommendations to rezone a single dwelling to legal 2-family? 

Silva,If you do change the ownership to an LLC be sure to change the Dwelling Fire policy to the LLC. 

Brad,I checked on our markets for Dwelling Fire Policies (most common form used for 1-4 family rentals). 

You also cannot do a Cashout Refinance in Texas through FHA, which would allow a singlewide.You may be able to accomplish the majority of what you're looking to do through a Construction loan (pay off land loan, fence, generator, well house, potentially even some renovations to the mobile homes if listed as Accessory Dwelling Units), but you mentioned not being ready to make the move on new construction on the property yet.It may also work as an FHA 203k Renovation loan, but these can be extremely cumbersome and expensive to close.

that will determine is you need a lot of dwelling coverage or very little.As far as investing in condo I believe it is more b/c in order to make changes sometimes the condo assoc. has to approve anything and that can slow down your timeline. 

I am under contract for a duplex in Syracuse, NY, built in 1925 and have received three different insurance quotes; all having significantly different dwelling replacement costs.Purchase Price: $155,000Quote 1 - $292,000 (premium: $1,062/yr)Quote 2 - $400,000 (premium: $1,072/yr)Quote 3 - $600,000 (premium: $1,264/yr)I chose the $2,500 deductible.How do I know how much I will need?

With my paid for condos and almost paid for single family rent dwelling I have about $350k in equity.  

I have seen some situations where a company used a vacant dwelling policy and endorsed it for renovation.  

Nothing wrong with dwelling on the silver lining or being positive but thats not my style.