Though, if you want to make changes with newer mobile homes there may be some restrictions (i.e. age, condition, etc.).

Keep focused on your goals and keep in mind it will take longer to build enough wealth because the conditions of the next 5 years in real estate will be much different than the last 5-10 when many people made their money. 

Anyway, after appraisal we were able to insured the property with Universal company, I recently got a letter that my policy was going to be cancelled due to the condition of the roof.

You are starting to hear the more conservative approach more often with the current economic conditions. 

This discrepancy might indicate a complex market with varying property types and conditions.- Market Volatility: While home prices have increased significantly, the average home value has seen a slight decline of 0.4% over the past year.

If you are looking for an investment it is very helpful to know from the numbers perspective of what you are looking for, strategy, what type of areas you are looking in, condition of the property/how much work you are comfortable with, etc.

So, when you replace something and make it bigger, better, or last longer, it’s categorized as CapEx.On the other hand, repairs are generally routine maintenance tasks that keep the property in its ordinary operating condition.

So I just saw this post about Section 8 HUD tenants, and this post stated something along the lines of section 8 tenants being more likely to damage properties because they're section 8 low income tenants, and also something about investors not wanting to put money needed into Section 8 properties because they think they're just going to be ruined by these Section 8 tenants, and as someone who knows the entire process with investors, owners, contractors, tenants, and prospective tenants, this is what I have to say about it:In my experience, Section 8 HUD tenants are actually better custodians of the property because of many factors, but 3 of the main reasons being, there is an annual HUD inspection that is performed on each property, so this gives the owner an extra 'protection vector' against damages, also, the initial placement of a Section 8 HUD tenant requires a passing HUD inspection, therefore there's a record of the property's initial state prior to move in, and additionally, they want to have an easy renewal voucher process annually, and their unit remaining in good condition is an incentive for those reasons, therefore they are LESS likely to damage a property - their future depends on it!

Lenders are gonna want to see profit and loss statements, rent rolls, property condition assessments, the whole nine yards.

Many carriers have ceased offering new policies or will only accept properties in very nice condition with verifiable updates to the roof, electric, hvac, and plumbing.