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?

I'm still in the process of growing my portfolio, but have heard others 1031 all their smaller properties into a larger building and have a property management company manage, OR, set up a seller financing deal with another buyer that gives you the cash flow you desire. 

@Mohamad Guene Investing in mobile homes near a university can be a profitable strategy due to affordability, high demand, and strong cash flow potential.

If you are thinking of targeting travel nurses just know that most of the demand is in the 1-2 BR space.

I am looking to learn and grow from different perspectives in the real estate investing space.

@Luke Spencer I am not on the management side but I can tell you it took 2+ years to fill 300 units at one of our facilities and the other just hit 300 units in 12/13 months so it really depends on the demographics, and local housing market trend, the more people moving in and out the higher the demand for storage.I think if you're looking at a saturated market then the upfront cash to turn the warehouse into self storage is not a good idea but then again, maybe those operators are on back roads ( low visibility ) and don't push google ads well.

There is enough demand on the north side you should never have a tenant issue if you do the correct due diligence.Secondly, lots of fake applicants lately.

I am looking for a solid real estate agent and eventually will need a home inspector, possible property manager/etc. in regards to the process.I have a few family friends which I am blessed to have mentored me the past few years in this field and I am determined/diligent to learn and grow. 

I'm at one week since the conference and becoming a Raisemaster and not only did the conference really AMP me up, having the modules at my disposal over the last week has helped the momentum grow.  

If you are the lone supplier of a specific housing product and there's pent up demand you will absorb your units quicker and have tenant stay longer given the lack of alternatives.