Are you allowed to lease the unit?

Someone with a voucher may still want to lease your unit even if the rates are above market because they are not paying. 

I’d love to hear some perspectives from more experienced investors on what you think about the info below:$75k for a 5bd 3 ba manufactured home that rents out each room for $500/monthPros:Reliable tenant paymentsCheap purchase price relative to income generatedPotential for ~16% CoC ROICons:Long distance investment (requires property manager)Month-to-month leases per bedroom (& no deposits collected)Located in Utica, MS – not a thriving market for rentalsManufactured home – not sure this type of home will build equityUnsure what kind of tenants live here Hey Molly!

There is no lease in anyway shape or form!

Most HOAs do allow rentals but you may need to obtain a rental permit or adhear to certain lease provisions.Feel free to PM me if you have any questions - would be happy to chat / give guidance

(They were leases with escalation clauses without a buyout option.)

I just had my first tenants move into my property on the 1st, when doing the final walkthrough I reminded them that there is no garbage disposal in the kitchen, I did mention this to them before they signed the lease.

I have not looked at apartments, but the condos I have researched have a minimum 30-day lease requirement, so be aware of that.One concern I have with short-term rentals is that they are dependent upon tourism.

Review their lease agreement and addenda.

Student housing tips include clear lease terms, property durability, turnover, communication, market trends, and financial stability.Good luck!