You may also want to present a detailed breakdown of the property's current condition and any factors that might affect its value negatively.Explore Tax Relief Programs: While you mentioned that you don't qualify for tax breaks as the property is not your primary residence and you're under 65, it's worth investigating if there are any other tax relief programs or exemptions available in your area.

.$120,000 - $140,000 ARV'sTrying to pick up for $50,000 each.Decent condition and might need $20,000 cosmetic.Rent $1,500 - $1,700.Granted, I have the luxury of market knowledge, cash to close, remote workers and solid lists.Definitely not falling of tree's like 10+ years ago but still plenty of deals to be had.$1m in cash and someone that is willing to work the market hard for 2-3 years can retire off the income if investing in the Midwest.Just my opinion 🙏 

There will typically be a lot of offers on the place unless the condition is no good or the property is priced high, so you need to communicate everything.4.

I have seen one bad tenant crush an entire 4 unit building with bed bugs, non payment of rent, and drive good paying tenants out of the building.The location is the # 1 priority, after that asset condition is really important.  

I found a duplex priced at $550k that appears in good living condition.

The one thing I will do to my units to make them more attractive to tenants is I will spend a little bit extra to put in slightly (but not extravagantly) nicer finishes ... things like brushed nickle hardware instead of brass or chrome, laminate floors instead of carpets, etc. and keep my units in good condition ... therefore, even if I charge market rent it is a good deal since my units have slightly nicer finishes ... if I take pride in my units and they are in good locations, then I find it will attract quality tenants who will also take care of my units, and no they do not leave when I raise rents up to the max the market will bear.

The Agreement also states that he will be subject to the terms and conditions of the Lease Exhibit A while living in the home.I have two concerns:  1) in this type of arrangement, would I be able to evict him if he defaulted on the payments?

I know 8-10% converted to $ will vary depending on how much the rent is and the type of property (or rather the condition of the property, but I'd like to think most PMs would not manage a home that is a disaster). 

If it is fully insulated then you are in business, if not, you'll have a lot more work getting the walls and attic in condition to have a room. #3 I don't see any issue there.

Sometimes, if you plan to put a newer used mobile home on a piece of land or lot there may be restrictions (i.e. size, age, condition, etc) depending on the city and/or county.