If your PM only responds to complaints and has no real advice on improvements in practices and procedures going forward your holdings will gradually slip, and maybe even sooner!

Most investors avoid mobile or manufactured housing because these assets are generally considered to be DEPRECIATING assets, like a car - they lose value over time as they are used and gradually "worn out".

After renovation, you can gradually fill in with tenants, then refinance to a long-term 30-year fixed rate loan.

The only way you are going to be able to accomplish this is if you wait until the bank gradually drops the price until it comes close enough.

Especially if repairs can be done gradually over the course of two years.What do you think?

So instead of gradually buying property at the moment, I want to pursue in creating fast lump sums to fund those properties and as well to save some of those capital gains.

Nothing crazy at the moment but I'm planning to gradually bring the rents up to a market value over a few months to increase the cash flow

None of the traditional single homes come with set up so you would have to modify, either room by room gradually or everything at once.

The plan is to gradually raise rent to market value, when the tenants move out I will renovate each unit one by one.Unit 1: Current $1,180 Will go to $1250 when I buy.- 4 year tenantUnit 2: Current $1,130 Will go to $1230 when I buy.- 15 year tenantUnit 3: Current $1,120 Will go to $1220 when I buy.- 6 year tenantUnit 4: Current $1,130 Will go to $1230 when I buy.- 5 year tenant-Utilities: All tenants pay their own utilities (Gas, oil, heat...not water)-Water Bill: $650/Quarterly- Paid by owner (me)- $2600/yr-Taxes: $1700/Quarterly- $6800/yr-Home Insurance: $2150/year-Flood insurance (needed): $2001/year-New roof 2013-New hot water heaters-New electrical-Mortgage info: -Purchase price: $770,000 -20% down: $154,000-30 year fixed @ 3.708% (**Current level)-Total mortgage payment (including taxes, ins, etc)= $4,004.24/Month-Total income from rent= $4,930.00-Cash flow: $925.76/month 

So the goal is to gradually increase rent at each tenant turnover.