FHA loans require living in the home as your primary residence for 1 year after purchase.

Purchase price: $161,000 Renovating now What made you interested in investing in this type of deal?

Quote from @Michael Overall: Good day, If an investor has 10 rentals and wanted to over time sell them and put the money tax free from a 1031 toward a large purchase is there a process to do that? 

I can help with the refinance to pull equity out, but no the purchase, as 99% of the industry won't finance mobile homes. 

Purchase price: $150,000 Cash invested: $60,000 Rented it for $2195.

Purchase price: $185,000 Cash invested: $5,000 Sale price: $220,000 Occupied by my in-laws.

I purchased a PreREO deal from them about 4-5 months ago. 

(IF you purchased and lived in property asap, then rented it out, then returned to it it sell it years later - better plan.

@Tomoko HaleWith STRs its not just purchasing the property. 

I eventually want to build on the lot but for the time being, I want to purchase it so that no else buys it first.