Nothing changes as far as claims are concerned, in case of a claim the payment will be made to me as the owner. 

Entering 100 expenses at the end of the month is very time consuming compared to Quickbooks or Tiller spreadsheet, plus you cannot do this through the mobile app.

thanks for your input. im not concerned. ive just never done hard money. thanks for your insight and information. i have all of the information you suggested will be required. im attempting this next week. my worst case scenario is a hard no. that just makes me work harder

The more I am reading and listening, the more concerned I get about liability protections.

My county is Very concerned about “occupancy and overcrowding”, so they made an ordinance that says, “A group of not more than three (3) persons not related by blood or marriage living and cooking together as a single housekeeping unit.”

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).

I definitely have a lot of the same concerns as you do. 

But if you buy four $200K houses then it's apples to apples and you're not going to fall behind.For what it's worth, I'd be concerned that if you over extend yourself buying a primary home you'll create a larger scale issue than just being house poor.

They offer flexibility and are specifically designed for rental properties.Best,Stacy The only thing I'm concerned about is the prepayment penalties with rates coming down.

As a concerned neighbor we are desperate to find a more qualified owner to improve the living conditions for these residents and avert any pending disaster.