I recently came across 1 acre asking for 314k in a very good residential and growing location, so the current owner has added 4 manufactured homes with 4 electrical meters, 4 septic tanks and only 1 water meter for all 4 homes, the homes are sitting on partial slab and partial pier & beam, he also added 2 storage sheds approx. 380sqft with the intention to make them ADUs they are still only the shell so I would have to get those ready to live in, so currently the 4 manufactured homes are being rented and bringing in 2800k a month, 3 of the homes are needing some TLC which could increment rents and possibly get me at 3600k a month, also being a 1ac lot this still leaves about 12,000sqft of raw land where you could build etc.So that is on the good side now the things I did not like so much, the lay out is poorly executed to where it makes it looked crammed up and not professional but it could be fixed.Another is that in reality there is only 4 livable units so that qualifies under a conventional loan but since they're are 6 units on the property the banks are wanting to take it as a commercial so we would have to move out the 2 storage sheds out in order to close as conventional.Another concern, technically you are only allowed to have one manufactured house or single wide in your property according to what I know but I know it could change according to zoning which I will investigate, so my question is has all this been accounted for and if so how can I verify it so it wont leave me in a bind further down the road, I currently asked my agent for the appraisal of the property to see if that might verify.Any recommendations?

The best deal I can find today is one that you buy cash, invest a rehab and when you pull out 75% of your ARV you leave maybe a small amount of money in the deal and you break even (BEFORE DISCOUNTING FOR VACANCY, REPAIRS, etc) Yes that means you leave like 10-25k in the deal and your payment becomes $3000/m and your rent is $3000 a month or slightly less.This is for my local market and for Class B or higher RE. 

the one situation we do face is sometimes they just leave and go home with no notice..  

The money partner leaves $10,000 in the account for any incidentals and we split the profits or the losses 50/50 until we sell in within the next 3 years.

This means leaving the door open that long to dry.

If the rental income from your condo can comfortably cover your mortgage and leave you a little profit, moving out might make sense.

Reduced energy costs also leave more room in household budgets, making housing—whether rented or owned—more affordable for tenants and buyers.

*Note* In NJ I will qualify for grants up to 22k to contribute at closing- In PA it would be closer to 10k (Money leaves my pocket at closing)I’m open to all ideas and advice as I’m going to get started this year, sooner rather than later.

., leaving it primarily to the platform's messaging system or texts has worked out so far, reserving direct phone contact for requests or emergencies (which saves time).

Be certain you've fully evaluated your cash flow by doing a cash flow analysis.I leave it to you to confirm you've taken in consideration the following potential costs: CapEx, maintenance, property management, water, sewer, trash, vacancy, turnover, taxes, insurance, etc.