I would highly recommend doing a renovation loan like the 203k or homestyle - you are able to leverage SO MUCH CASH for such a low down payment. 

The combination of high costs and the after-repair value (ARV) frequently leads me to conclude that buying a new rental property is a better use of capital.

I wanted to see what markets have both a relatively high rent-to-price ratio and high appreciation.

I highly recommend going with a LOCAL LENDER ie in the same state, and preferably from the same area of the state you are looking.  

If you are able to lock up deals and you mess up the repair estimate (like most wholesalers), no one is going to buy it and you will be buying too high.

This project highlights our commitment to high-quality living spaces in Columbus.

There's a very specific ways to calculate FHA income, and it will be highly dependent on how the deal and your ownership is structured.

Flipping on a land lease with high HOA fees = challenges that could impact profitability. $700/month HOA fee may deter buyers, elongating your resale timeline, and could push your ARV closer to the lower end of your range.

Hey @Jeff Ryan, Let's say the mobile is worth 120k (which seems really high for a 25 year old double wide).

I am also looking for tax optimization as the business will require cash reserves and is a high risk business from a liability perspective.