There is no point in looking at a home that can not reasonably obtain a permit.

Common sources of such properties include:Foreclosures: Homes that have been repossessed by banks due to non-payment.Distressed Properties: Homes that are in poor condition and need a lot of work.Auctions: Properties sold at auction for below market value.Off-market Deals: Properties that aren't listed on the MLS but are available for sale through direct outreach or networking.The key is to buy a property at a price low enough to ensure that even after renovations, the home will appraise for a higher value.2.

Lake side homes are more desirable for short term rentals in this area but not impossible to accomplish.

The gentleman Chris Koerner seemed well educated on the topic (mobile home park investing) and he gave enough information and follow-up documents that you could take the information and run.

I'll add on to what the other Ben said and mention that there are exceptions based on the # of days that you rent out your home to where the income/expenses are excludable (being lesser of 14 days or 10% of total usage if under 140 personal use days).

One thing I will say there is a shortage of is properties that accept a pet (single pet, ie 1 dog)You will see a lot of manufactured housing on this corridor, but there are some older homes needing updates since the parent or grandparent had just passed (just toured a great one that sold for $219k in a week (cash) that was massive but my buyer was afraid of the work & it was easy fix and flip)As I mentioned below, I'm very curious to your style-what makes the right deal for you?

And right now, I am going to tear it down in 2025 and build a new house as my primary home.

Also, when not occupied, the PITI on a high-end home can quickly erode prior cash flows.

From my experience selling RE and building new homes your just not going to please everyone

I do have equity built up in my home, but I don't want to be saddled with yet another payment.