Lastly a Heloc will "Never" act as an asset or PITI reserve so if you fail to have sufficient funds required in reserves (Cash) then your will not buy multiple investment rentals.

Have a business conversation with a tenant, send them an email summary of the conversation and ask them to confirm you got it correct.

So if the bank reserves $100k and gets title then sells the REO for $120k the redeeming party owes the $120k.  

I understand that with SFRs, my rent, maintenance, and taxes will be more but that is all factored in.My reservations with the SFRs are rising insurance and property taxes.

If you can pay less than rent, and if you have sufficient reserves, that's the way to go. 

So put as little money down as possible or have big reserves. 

But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).

This is not an automatic yes, it needs to be confirmed. 

Hi Anthony,Expect to put down 25% on the purchase and have 6 months of PITI reserves.

I can confirm that last minute bookings (a month or less) have increased.