But for FHA loans specifically the home must be from the factory on location, have the tongue and axles removed, and ideally have a mortar-based skirting, which means a 12x12 inch concrete base under the skirting around the perimeter of the home.

The biggest factor is what the market will bare as a sales price for  the same configuration (SFR 3/2 or MFU of 8 2/1). 

Depends on your budget but cities like...University Heights, Richmond Heights, Mayfield Heights, Cleveland Heights, Willoughby All fit the bill.Again, this depends on the city but a typical deal for me looks likePurchase price: 50000Rehab - 25000ARV - 110000Rent: 1250Cash out refi at 80,000 gives me a little extra cash in my pocket and the cash flow is still good.As others have mentioned, getting a crew of contractors from a distance will be the x factor. I

Mortgage payment = $2600, rental between $2600 and $2800The only positive factor is that if I stay in the house for a year -- then I would be saving the 20K towards my current apartment rentHowever in 3 years time, when I am able to ay 20% of the home value (with extra payments) -- the Mortgage payment would be 2K and rental 2.6K (assuming no change).

@Louis Friedman I went to Easton with my family (Crayola Factory WOOHOO!

Another factor is that cap rate is a measure at a given point in time.

Second factor is that they are selling the building I've been living in, and I know that as soon as it sells, my rent will double or triple, and I'm not going to do that.

I'm also conversant enough with several types of programming to be dangerous.Specifically, I design Automation Equipment for factories in the Automotive, Pharmaceutical, Green Energy, and many other sectors.

There are many different types of homes built in factories from the least expensive to million dollar homes.

Go make some good mortgage loan origination software (not marketing software, not a cell phone app... origination software), make a few million bucks by virtue of having a monopoly product that you can sell to money factories.