I am looking to start investing in real estate to supplement my income, pay off my student loans, and eventually develop a substantial "passive" income stream.

He has a way out to make his life easier if he has substantial equity.

I am not in front of my computer right now and I don’t recall what the actual property assessment is but it is substantially less without the MH. 

Wipe clean the intake areas.

Well, I just had the inspection done on a property I'm considering in town and there's a substantial amount of work to be done. 

Dear BP Community:After rehabbing my first unit and getting all my ducks in a row, I am on the cusp of being ready to go out on the market for the first time as a landlord. I am excited, and nervous! I would love to g...

So I ran some numbers on the basic information provided, and just like most properties I’ve come across, it appears the only way to cashflow with just 20% down is to buy at a substantially reduced price.

I don't see any:lawn care or snow removal (which may mean snow removal from the roof as well), Trash Pickup90% of the duplex type properties in Maine would have 1 heating system meaning landlord pays (can be substantial depending on the property), electric could be per occupant but checkI assume you would also pay water sewer --  maybe $60 per monthA building like this is Waterville is probably a old converted single family even if it is all redone I would reconsider your repair and capex estimates I don't know local Waterville but double check the property taxes

Is your goal to achieve cash flowing properties and have a substantial amount of equity tied up in a property?

Wondering how that would work since I've owned it for 4 years now.Unfortunately there is no benefit to you unless you have a buyer that is wanting to "substantially improve" the condo, i.e. double the improvement basis.