The plumber’s report indicates that the leak may have been caused by an overflowing tub or sink upstairs, but the tenant in that bedroom denies any such incident.As a result, I now have substantial expenses for the plumber and restoration company, including drywall repairs, painting, texturing, and reinstalling electricals.

We both know the numbers you used (mostly that 1000% return number) aren't practical, but humoring them paints an interesting picture about the financial advantage of leverage.

There were some things that some of his crew had done wrong—the kind of things that you list in walk-throughs, like paint spatter.

And everyone wants to go to HD and buy Behr paint because consumer reports says it’s the best.

I am not an expert in either lead or FHA, but here are a couple thoughts for you to look more into.By lead in the unit do you mean paint?

Needs gutters, full kitchen and bath, floors, paint with some drywall repair, windows, front porch and the deck on the rear is pretty poor as well.

We painted the inside, opened the kitchen/dining room, replaced windows, removed a nasty fabric lined black tub from the basement, replaced the siding and redid the bathroom.

You can look at a mobile home and see it as an easy rental with new carpet, trim and some paint but there are other bigger uglier expenses that can come up.Roof Replacement, soft floors (water damage) in kitchens and bathrooms- most floors are particle board, exterior door replacement (special order), underbelly insulation falling, bad hot water tanks with rotten floor underneath (real joy), bad windows (water again), bad bloated siding (water), water damaged base frame around perimeter of home, cracked tubs (special orders) and frozen pipes (Good luck finding a plumber to come work on a mobile home- they do not exist). 

Painting walls, updating fixtures, or handling minor repairs yourself can save thousands upfront.Consider Your Exit Strategy: You’ve got the right idea;house hack for 1-2 years, then convert the property into a long-term rental.

We did remodel on this one with new lighting paint, auto gate etc.