Hi Jacob, There are DSCR and Hard Money Lenders that will finance a manufactured home as long as it is not in a rural area, and there is no land lease.

The one thing I am unsure about is how earnest money works when you have yet to find a willing buyer to assign the contract to?

In the short term there may be some hiccups given what I have heard.

I’m based in Tampa and run Graystone Investment Group, focusing heavily on helping (out of state) investors find and manage properties here in Florida.Totally agree on the importance of understanding those short-term rental rules in Florida—each area can feel like its own little country with all the different regulations!

I suggest you get a hard money loan on the free and clear rental. 

With 40K you can tackle a property using hard money(flip or BRRR) BUT 40K can be eaten up quickly.

A $400-500K mortgage is not a trivial payment plus property taxes on top of running your own house. 

I have two long term rental units now (6 years) and just exited a short term rental last year due to a good off market offer.  

For Short term renters ? 

The HELOC is reusable--you can pay it down and run it back up.