I'm not a CPA, no legal advice given.

No, it would be a total loss.

Hi Anthony, it sounds like you’re in a good position to start building your STR portfolio, especially with no debt, great credit, and rent-free living!

Who says there are no deals to be had? 

Negative CF, which is what you are describing, means you are buying your property, and making no money in the process.

I also have $100,000 sitting around from him because I have no idea what to do with it help!

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

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I will ask him to carry the loan for 5 years, no interest🤔, with $40k down and a balloon payment The 6th year.

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