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!

We used to have a similar philosophy ... and then we went to live in Clovis, New Mexico for a few years!

We live in a town of approximately 5,000 people.

My brother and Sister-in-law live in Dallas and it is a dynamic market. 

If the numbers are not making much sense where you live, you should consider investing outside of your market.

At the end of the day its a great business anyway you set them up if your successful and we are blessed to live and work in a great country.

I know they bought that property based on analysis, but don't know the market or area.I'll bet there is all kind of opportunity where you live. 

American IRA is hosting a live session on End-of-Year Considerations for Your Self-Directed IRAs and 401(k)s on December 4th at 12:00 PM.

It was a great investment as he put $10K down on a $25K investment in 1963, paid off the $15K mortgage in 1980, retired, and live off the rental incomes.

Biggest thing here is they wants a house big enough for 2 separate living areas and house cannot have more than just a few steps to entrance and hopefully rear entry/etc.