Also, there is a lot of vagueness in the interpretation of the law.

And you are looking at an interest rate around 7% instead of over 10%. 

I've been working in software consulting services for over 15 years and it's kind of disheartening that I haven't been able to figure it out, but I've got other things to worry about (like how to get a few more properties so i don't have to worry about buggie tech crap anymore :) ).

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

I dont care if the tenant is paying themselves, the government, the tenants parents, etc.

Hi Vivien, welcome to the community!

-Build a strong network in Detroit of real humans over a period of months, buy a better deal, hold it for 10+ years, weather early storms:  better chance for success.Even on that latter deal though, are you going to cash flow in month 1 or year 1 or even year 5? 

Built in a factory the quality is often better and cheaper than stick building out in the elements.

In the webinar, he stated he's been buying/selling MHP for over 5yrs and just recently he and his partners started the investment group. 

I normally pick and choose the events I go to based on what will be discussed.