This strategy aligns well with your desire to build equity quickly and transition to rentals.

It's impossible to know everything about a market, so any value add information is expressly desired, and I appreciate it!

Should I be looking in less desireable neighborhoods?

It's in a desirable low vacancy, high demand location that happens to be in a mixed commercial / residential semi-neglected but very safe area 2 blocks off a major shopping street. 

I'd warn anyone pursuing this that it is VERY difficult to find land zoned for manufactured houses, especially in a desirable location. 

Share the details of your project as much as possible and let them know how much involvement and communication you desire from that person. 

The houses are close to zero cash flow after accounting for expenses, but they are desirable areas.  

Otherwise it should 10-12% (it depends but if you add the leasing fee and weight it across 36 months then it will be more accurate than the flat fee)I'm not seeing 100-150$ per month for maintenance and I'm not seeing any similar amounts for capex reserve.Don't pay for utilities unless you have to for some reason.PP: 241kClosing costs: 3% is ~7.25k1-month vacancy: 1.8kLeasing fee: 1.8kImprovements: 5kAre you all-in for around 257k?

Ive got a couple of cheap condos at $400 free cash flow per month that are in less desireable locations, where the rent hasnt budged since I purchased 7 years ago.

Yes NH can be competitive, especially in highly desirable towns like the ones you’ve listed.