Im self employed, roughly make $130k gross anually, 1099 NEC , no debt at all, 740 credit score. 

Maybe not for my generation, or even a youngster like @Jay Hinrichs, but for the bitcoin investing/trading generation, it’s probably something they’ll have no problem going with.  

Now that I am in position, I would like to place a mobile home to generate some passive income, but I don't want to use my savings for the down payment.

That does not require employment or job seasoning instead it uses the rents to qualify and you can take out up to 80% LTV cash.Use the cash to put down on the next 1-2 or more properties as long as the other properties are debt servicing themselves it opens up more opportuities to buy more future assets and increase your passice income.  

But timing and planning are crucial.Here's what you need to consider:Future Passive Income: Do you expect to generate passive income from other sources?

However, ensure you have a solid repayment plan to avoid over-leveraging your home.Focus on long-term rentals that generate steady cash flow and offer tax advantages, such as depreciation and deductible expenses.

Where we expected to gross between $30-40k, we are grossing $60k and generating around $2000 per month in cash flow.

I ran my own custom proforma for a bank loan using the asking price that would generate a cap rate over 10% and CoC just under 20%.

This can range from minor exaggerations to outright lies about employment, income, rental history, or identity.Key Signs of Potential Fraud:Inconsistencies in Documentation: Discrepancies between the documents provided and the information filled out in the application form can be a red flag.

Hypothetically, if I found a property with strong rental demand, the income could cover loan payments, operating expenses, and generate a modest positive cash flow.While this example involves upfront risks, the idea would be to leverage my father’s expertise as a contractor to minimize renovation costs, boost the property’s value, and create a long-term asset that appreciates over time.