Most midwest markets offer this type of inventory.I am also beginning to talk to CPAs and attorneys, but I am not sure what questions I should have cleared at a minimum to confidently take the big step. - First, I recommend speaking with a lender to find out if you can purchase the property in the name of an LLC.

What made you interested in investing in this type of deal?

With 3 properties already, you're definitely not "new" anymore ;-) Doing a refi is very possible (depending on how much equity you've accumulated) to do those types of things...the issue can be the tax ramification that you face if/when you do it.

There are a multitude of factors that come into play such as the type of property and its location, and the structure of your investment portfolio.

Doing this and then moving out right away is called Occupancy Fraud, a type of mortgage fraud! 

I’d love to hear some perspectives from more experienced investors on what you think about the info below:$75k for a 5bd 3 ba manufactured home that rents out each room for $500/monthPros:Reliable tenant paymentsCheap purchase price relative to income generatedPotential for ~16% CoC ROICons:Long distance investment (requires property manager)Month-to-month leases per bedroom (& no deposits collected)Located in Utica, MS – not a thriving market for rentalsManufactured home – not sure this type of home will build equityUnsure what kind of tenants live here Hey Molly!

These types of exchanges are great for purchasing new construction.

What made you interested in investing in this type of deal?

Hey Errol, Im open to getting on the phone with you to give you some perspective of this type of construction and what you should expect if you decide to move forward.

I've got a couple of soft factor questions I'm not sure how to analyze and would love to speak to a few of you more experienced types!