The land is tangible and the mobile homes are considered Personal Property and titled like a automobile.

Quote from @David Cherkowsky: Hi All,I purchased an investment property in the middle of last year and to this point have been using 0.75*lease value in my DTI calculation.

Since acquiring a four-unit property on the Northwest side, my bi-monthly bill has typically been around $500.

Does anyone have strategy recommendations for purchasing multi-family properties with zero-low downpayments?

I might buy 1 property that has cash flow, another that has a great purchase price, another that has great appreciation prospects and yet another with great financing terms. 

Is this property in TN?

I’m a real estate broker, Investor, and property manager in Lee County.

On the flip side, I am in the process of acquiring over $1.5M in defaulted DSCR loans form borrowers who are your age that put 25% down but had no money to fix any of the problems  = lost the renters and walked from the property.

We use Hiscox for our insurance with our business, not sure if it works for property but its worth a try. 

Where is the property located.assuming the seller added the ADU and did not disclose the ADU in disclosure forms, you may have recourse (depending on the rules of your jurisdiction) but it may cost you some legal fees.