Great book as well especially for getting everyone focused towards a common goal. 

@Chad Gardner - this is one of the most common questions we get from potential/future househackers. 

Hi Dennis, What kind of loan is it for?

Is this type of financing common?

In reality, you're not going to want the kind of tenants that want what you have to offer but aren't in a position to buy.

If they decide to move out you can do the remodel. 3) are the tenants in any kind of financial situation to buy the property?

And what kind of protection are you referring to?

I’d love to hear some perspectives from more experienced investors on what you think about the info below:$75k for a 5bd 3 ba manufactured home that rents out each room for $500/monthPros:Reliable tenant paymentsCheap purchase price relative to income generatedPotential for ~16% CoC ROICons:Long distance investment (requires property manager)Month-to-month leases per bedroom (& no deposits collected)Located in Utica, MS – not a thriving market for rentalsManufactured home – not sure this type of home will build equityUnsure what kind of tenants live here Hey Molly!

I am kind of stuck on where I should lead him next, since he's busy with school and sports he doesn't have time for a job.

And they will be scrappy by nature and certainly don't have that kind of downpayment laying around.Second, obviously is price.