You're likely looking at a hard money lender or private lender, but they do exist and some will finance not only the initial purchase but the rehab as well.

An owner is required to apply separately to the city for an initial certificate via the city’s website for each vacation rental operated, which must be received prior to renting.

In this session, you'll learn how evolving labor trends can have a profound impact on the properties you buy, live in, and operate.

Most times you are probably talking septic systems (otherwise you are in town where things are much more likely to be restrictive (zoning, ccrs, limits on how old units can be, etc)there are considerations for used mobiles that you may not think of initially- , such as for example securing insurance being difficult or near impossible in some cases if the home has been moved more than once.I'd love to hear more input from any others who have dealt in used manufactured (single and doublewides, HUD, made after 1976).

s mentioned JV is best initially ..always pays to be circumspect and cautious the first few, once you gain confidence all alone is good to go!!

The beauty here is that you will be able to get back your initial cash invested in the deal when you refinance.

For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: Estimated at 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 per month, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow over time.

The best recent move I made was to set up all new borrowers on ACH; I initiate the ACH batch to collect monthly payments. 

We'd like to move out of this primary residence and initially were looking for a new place to rent, but then I remembered about line of credit and then had the idea to inquire about this for our vacation home.

Funny thing, the buyer’s attorney (Robert L Morton/North Raleigh Law Firm) was initially ESCROW MGR, when my sale was active before termination.