Other risks, the contractor walking off the job, a storm hitting and delaying the project for weeks, someone breaking into the home and stealing stuff (which happened just the other day to a client of mine), a squatter, or drunk driver driving into the house (happened a lot at my old job as a firefighter lol).

So I would like to get the opinion of some experienced investors.My goal is to buy (3) three to four multifamilies.I inherited a 3 family fully paid off and own my current home.Between the two I have roughly 550-600k in home equity.  

First off remember the phrase "Once a mobile home, always a mobile home".

look for land with owner financing And I am sure you know this but location and safety will be paramount in the Jackson market there are simply areas the crime is far to high for this to be successful..

Home Equity: What Is It?

I've only had one person look at my home. 

Our current plan is to purchase our first home and live in it for 2-4 years before moving to a new home and using this first property as a rental, so my fiance and I are currently in the market for a home that we could use as our residence during the offseason and then use as a short term rental or something like that while we are away for 6-7 months.

Quote from @Spencer Elliott: Long story short, land is on loan and I’m purchasing a manufactured lot as a temporary home/future ADU to my final build.

I’ve lived in my current single family home since 2020.

In other words, they are in some sort of financial situation that is forcing the sale of the home.