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.

I've sold (for others) 6 properties in that neighborhood in the last 60 days - all were vacant and run down, and all of them were bought by experienced investors (their condition prohibited most would-be homeowners from considering them).

He has not idea what the condition of the property is either.

For example: 10% of profits during ownership, and then a 20% profit share on the sale if a certain sales price is reached, maybe 15% if a lower price is achieved etc.It makes for logic given the conditions.

Many camps will counter to power of leverage and they are right, if used properly and under the right market conditions it is a powerful tool.

Here are some pros and cons of each approach to help you decide:Paying Cash for One Home and Refinancing LaterPros:No Mortgage Payments: You won't have monthly mortgage payments initially, which can reduce financial stress.Equity: You own the home outright, giving you full equity which can be used for refinancing.Lower Costs: No interest payments and possibly lower closing costs compared to having a mortgage.Better Negotiation Power: Cash buyers often have more negotiating power and can close deals faster.Cons:Opportunity Cost: Your cash is tied up in one property, potentially limiting your ability to invest in other opportunities.Refinancing Risks: Future interest rates may be higher, making refinancing more expensive.Market Fluctuations: Property values might decrease, affecting the amount you can refinance.Buying Four Homes with 20% Down on EachPros:Diversification: Owning multiple properties diversifies your investment, reducing risk.Rental Income: Potential rental income from multiple properties can generate cash flow.Appreciation: You benefit from the appreciation of multiple properties.Leverage: Using mortgages allows you to leverage your investments, potentially increasing your return on investment.Cons:Higher Debt: You'll have multiple mortgage payments, increasing your debt and financial obligations.Management: Managing multiple properties can be more complex and time-consuming.Market Risks: Market downturns can affect all properties, amplifying risks.Cash Flow: If rental income is not enough to cover mortgage payments, you could face cash flow issues.Considerations:Financial Stability: Assess your current financial stability and ability to handle mortgage payments and potential vacancies.Market Conditions: Consider current and projected real estate market conditions and interest rates.Investment Goals: Align your decision with your long-term investment goals and risk tolerance.Professional Advice: Consult with a financial advisor or real estate professional to get personalized advice based on your specific situation.If you prioritize lower risk and less debt, paying cash for one home might be the better option.

A list of distressed properties (potentially motivated sellers) with addresses, owner info (already skip traced and paid for) and current pics of condition in my opinion would be something I would pay for myself as an investor.

Its an amazing house that I got for a great price and it was in remarkable condition compared to others I saw in my price range.