Even if these people know their property is worth more, there is sometimes that one owner that wants the windfall of cash they have coming and will take that low offer. 

Long Beach is so fringe oriented and prices are so high that it is pricing out the low income people out.

@Bonnie Low Thanks Bonnie!

Because the existing house was too low the developer followed the rough location of the old sewer line and installed a new sewer line to connect to the existing house. 

In January 2024 we were at the low in inventory with only 1648 homes for sale.

Conversely, when property prices are low, rental demand decreases, causing rental rates to remain relatively flat or fall.How can you identify cities that are likely to have significant and sustained appreciation and rent growth?

I have very low bills though, so I could save $12k in about a year.All the MHs I looked at were in parks.

I've never heard the 25% thing before, but any difference between FMV and sales price would technically be considered a "gift" with potential tax implications for your parents.You can avoid most seller costs as there's no reason to use agents in this case.As an FYI: I always recommend avoiding a FHA loan, if you qualify for a low-down payment conventional loan.

I am in the low 800s and don't know of any tangible benefits to be at 800+.

We are looking into houses on the lower end of the scale at first to get started for a "low risk" (we could pay mortgage out of pocket no problem even if property is vacant for 30 years) house that will give us the experience we need as rental home landlords - and I am looking down the road at potential investment ideas to keep this thing rolling.