We need the cash to mostly just tie us over untill we sell the property, so 150,000 is on the upper end; 80,000 and above would probably be sufficient. 

Just not seeing any rents close to the property for 3/4 bedroom properties that would cash flow for a mortgage that size.

I was looking there myself and curious what areas you would choose for a mix of cash flow and appreciation? 

I am researching my first deal in town (a foreclosure), and hoping to slowly but surely acquire properties for cash flow and retirement security. 

Purchase price: $690,000 Cash invested: $172,500 Took a gamble on a larger single family home in an up and coming master planned community.

If you're considering mobile homes, the first step is checking zoning laws and utility access since some areas have restrictions.For resources, Mobile Home University is a well-known starting point, and local mobile home dealers can offer insights on placement and financing.If mobile homes are allowed, you could either rent them yourself for higher returns but more management or rent out the lots for steady cash flow with less work.

You could create an operating agreement granting one of you the powers - but it is a fair amount of energy/time/activity for someone to manage and find deals.

Those that own it can be harder to sell as the cash flow from the business will cover the debt service for the business, but not for the real estate.Example: I had a very high-end assisted living facility on the market. 

The right market for you depends on whether you prioritize cash flow (Augusta, Columbia) or long-term appreciation (Greenville, Huntsville).

It's a more affordable market and lower property taxes, so you may actually have a chance to cash flow.