A subdivision of nice $400k homes was built across the street back around 2004.

Don't split the work between multiple contractors if possible, finding one to do all or most of the work will keep prices down.Challenges were finding replacement pieces for certain items as manufactured homes were very different than stick built as well as going through state guidelines for affixing the house to the land

Unless you know of a house built with no living/dining room and the basement all chopped up into rooms about 100 sq ft! 

And even if they do, they have to be fairly motivated to be willing to do so (even if you've built rapport and all that good stuff).If they are motivated, usually that means the property needs work and they almost certainly won't lend over and above what you buy the property for.

I found a single family home built in 2004 for $240,000 and believe I can get 20% down within 12 months.

Nonetheless if you can build a 7 plex for $700K (in my area, things are getting built for $200-300 a square foot), it definitely seems like a profitable endeavor. 

Buying a large new build home can also work well as a house hack as you can charge a premium rent, and generally most bedrooms built now a days have en suites (at least in my market).  

Houston, TX 77092$405K | 3 Bed / 3 Bath | 3,030 Sq Ft | 14,130 Sq Ft Lot | Built 1952$449K - https://www.redfin.com/TX/Houston/5107-Hialeah-Dr-77092/home/30104865$499K - https://www.redfin.com/TX/Houston/2206-Wakefield-Dr-77018/home/29994506$425K - https://www.redfin.com/TX/Houston/4803-Chantilly-Ln-77092/home/30124010$1.1M - https://www.redfin.com/TX/Houston/1726-Locksford-St-77008/home/30123054PICTURES: https://www.dropbox.com/scl/fo/q6uzdcx60eiqelwt60uh0/APSK8ocLphgyIP8-85EMfQM?

We are the most productive STR in our area and bring a lot of revenue to the little town.

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.