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). 

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.

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.

Quote from @Daniel Araque: Thank you Georgy, that paints a much clearer picture for me.Essentially it behooves me to pay off my line of credit as fast as possible because the longer it takes, the more interest I'm paying which in turn eats up my total profit for that single investment.I did the math based off the following numbers. $10k line of credit at 8% , 10 year payback, $121/month payment. $1k personal cash flow after all bills/expenses paid.

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?

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

We do some cosmetic improvements to bring homes to our standard, typically carpet and paint, upgrade lighting etc.

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.

.- You close on December 10th- The property is in great shape and does not need any significant repairs- It only needs some paint touch-up and changing a couple of broken fixtures, which you do yourself- You spend the next week buying furniture, electronics and supplies and installing/arranging everything yourself- You also roll up your sleeves and scrub the toilets and sinks and appliances- You put it on AirBnB/VRBO and have your first guest renting it for the 3 days of Christmas- You second guest rents it for the following weekend and leaves before NYE- You personally clean and restock the place between these two guestsCongrats!

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.