There are several factors to consider when deciding whether to replace the old mobile home with a newer one or renovate the existing one.If you choose to replace the old home with a newer one, some "gotchas" to be aware of include the cost of purchasing a new used mobile home, transportation and installation costs, permits required for the new home, as well as potential landscaping and foundation work needed to accommodate the new home.

I highly suggest that you tune in to the BiggerPockets Podcast and connect with the local lenders and brokers of the market you choose.

Finally, as a landlord a word of advice choosing tenants like this.

Their service costs a little money, but you have access to plenty of different templates to choose from.Hope this helps! 

The most important thing to keep in mind is to first identify a strategy, choose a market that aligns with it and establish your Core 4.

Type of property - Choosing a triplex and fourplex is ideal but a duplex will also work out. 3.

Choosing depends on your preference.

@Trino Martinez I have a 60-day notice in my leases so if I’m raising rent I send notice plus list of recent nearby rentals out 90 days before lease end so tenant has a month to research then give their 60-day notice to vacate if they choose.

Most lenders are just concerned with PITI and HOA when they qualify your dscr, but you will want to make sure you account for management if you are choosing to use that service so you know how much the property will make. 

Putting your real estate holdings within an LLC might protect your personal assets in the event that you are sued for your real estate endeavors.Before putting their property into an LLC, some investors choose to wait until it has increased significantly in value or developed a sizable amount of equity.