Here are the numbers:Purchase price: 300k @5.5% (might be able to negotiate new exterior paint job credit)Monthly costs: mortgage- 1703 tax-245 (2933/yr) insurance- 167Market rents are 1600$ easy for both sides as is but currently being rented at 1410 and 1325 tenets pay all utilities (separately metered)Planning on putting aside 20% of rents for Maint, vacancy, capex and will be self managing property.

Also converted what was once a restaurant/kitchen to a coworking lounge with views of the ocean and pool/patio area.Redid kitchens, painted, added swing, hammocks and created social areas.

From clogged drains and leaky faucets to ceiling fan installation, fences, painting up to small kitchen and bath remodels there isn't much we can't do.

You can look at a mobile home and see it as an easy rental with new carpet, trim and some paint but there are other bigger uglier expenses that can come up.Roof Replacement, soft floors (water damage) in kitchens and bathrooms- most floors are particle board, exterior door replacement (special order), underbelly insulation falling, bad hot water tanks with rotten floor underneath (real joy), bad windows (water again), bad bloated siding (water), water damaged base frame around perimeter of home, cracked tubs (special orders) and frozen pipes (Good luck finding a plumber to come work on a mobile home- they do not exist). 

The plumber’s report indicates that the leak may have been caused by an overflowing tub or sink upstairs, but the tenant in that bedroom denies any such incident.As a result, I now have substantial expenses for the plumber and restoration company, including drywall repairs, painting, texturing, and reinstalling electricals.

Ah, the beauty of real estate: no matter the horrors a house has seen - satanic rituals, questionable paint choices, 1970's wallpaper - everything cleans up.Bloodstains?

Painting, plastering, refitting out fixtures and fittings, windows and doors.

., paint, flooring)Medium Cosmetic: $40-$60 per sq. ft.

Painting walls, updating fixtures, or handling minor repairs yourself can save thousands upfront.Consider Your Exit Strategy: You’ve got the right idea;house hack for 1-2 years, then convert the property into a long-term rental.

Needs gutters, full kitchen and bath, floors, paint with some drywall repair, windows, front porch and the deck on the rear is pretty poor as well.