I recently came across 1 acre asking for 314k in a very good residential and growing location, so the current owner has added 4 manufactured homes with 4 electrical meters, 4 septic tanks and only 1 water meter for all 4 homes, the homes are sitting on partial slab and partial pier & beam, he also added 2 storage sheds approx. 380sqft with the intention to make them ADUs they are still only the shell so I would have to get those ready to live in, so currently the 4 manufactured homes are being rented and bringing in 2800k a month, 3 of the homes are needing some TLC which could increment rents and possibly get me at 3600k a month, also being a 1ac lot this still leaves about 12,000sqft of raw land where you could build etc.So that is on the good side now the things I did not like so much, the lay out is poorly executed to where it makes it looked crammed up and not professional but it could be fixed.Another is that in reality there is only 4 livable units so that qualifies under a conventional loan but since they're are 6 units on the property the banks are wanting to take it as a commercial so we would have to move out the 2 storage sheds out in order to close as conventional.Another concern, technically you are only allowed to have one manufactured house or single wide in your property according to what I know but I know it could change according to zoning which I will investigate, so my question is has all this been accounted for and if so how can I verify it so it wont leave me in a bind further down the road, I currently asked my agent for the appraisal of the property to see if that might verify.Any recommendations?

Purchase price: $275,000 Cash invested: $294,000 Sale price: $355,000 Seller was behind on pay HOA payments and in risk for losing the property.

Would love to know your thoughts and hear if anyone does anything similar with their personal vs property funds.

Hopefully rents start going up 2nd Qtr and into 2026 and 2027.What price range do you want to be in? 

🏠 vs 📈 - A Fresh Look at Real Estate and Dividend StocksHey there, fellow investors!

A deal this small wouldn’t make sense as a partnership unless the original intent was to scale and grow together assuming this deal works out.In regard to the financing, if you can’t get it on your own without someone else’s balance sheet and income then it would be very difficult to untangle that partnership since he’d be a personal guarantor right along side you.  

This city continues to grow and evolve, making it a strong choice for real estate investment.

This does not mean actively acquiring but rather considering valuation, market demand and rents, and potential ROI. 

Growing rapidly and is reasonably priced still. 

Hi Joshua,Welcome to the forums.Wishing you the best as you grow your portfolio.