I want to put the property up for rental to decrease the vacancy time.

I was told that existing occupancy levels in this small town are very high but the market is saturated and the oversupply is causing rental rates to decrease.

If I understand it correctly consider; Sure you can do that but, in a way I think you're just shifting your 'net worth' it's not increasing or decreasing the only benefit is increased cash-flow from your paid off property.

If you think about it, all you are doing is decreasing your down payment.

Depreciation is a tax deduction based on the cost basis of the property and appreciation is the idea that it will increase in value over time which doesn't really work too well with mobile homes although the land will probably increase in value over time there's no guarantee of that either, it could stay even with inflation or even decrease.

You can ask to see three years of income and operating expenses from the current owner to get an idea of vacancy, income and expenses and can estimate a post-renovation ARV by looking at what expenses can be decreased and seeing where you can add income. 

Some additional thoughts were to turn it in to a group home and just collect rent (typically higher than fair market), re-rent it and throw additional principle at the note each month to decrease the potential loss then dump it when I'm comfortably low enough.Trying to get creative here....ill keep pounding the pavement.  

Hello,Working with some partners to decrease vacancy rate of 160 residential units in a large Ohio town near Columbus.

The HOA will never put a written rule on restrictions because it will decrease property value but they have enough power where if my parents were to fight it they may change ccr.

Her max recapture at 10 years would be 10/27.5 = 36.36% accumulated depreciation which is taxed at 25% maximum (this decreases at lower incomes) or 9.09% of the initial depreciable cost basis.