I ask this because I am modifying my strategy slightly to include this after paying a crap load of taxes last year. I fought the urge to do this since moving can be a drain on resources both time and money. I may be...

Nice down payment, no repairs, and more monthly, plus if you do it right, a nice pay day at the end. ( Just gotta check Texas laws, I know they have certain rules on owner finance) Good Luck!!

I completed the rehab mid last month and sold the property in 5 days, which yielded a $260k payday.

Lots of people who don't understand their refis have a payday loan mentality.  

I would rather a big payday over rentals but am open to strategies.

Not a huge payday, but I think it's best to leave substantial meat on the bone for the rehabbers to hopefully keep working together.

There are also short term uses for land that generate a return but after paying property taxes the returns are usually nominal in nature and you are land banking for a larger payday.

Yes, there is a specific strategy I would recommend for this. 1. test for buyers 2. locates most sellers 3. make many offers 4. close top deals.I am Not sure what you where recommended with regards to mobile homes by your friend however they are great cash-cows but less good when it comes to big paydays.

Nice one 30k on an all in 107k is a great payday

It seems silly to me to pass up a potentiallyHUGE “pay-day” simply because I have never done this before.