The shipping container is going to add another component of complexity to the process, design, engineering.

. $20k towards down payment and closing costs, and the rest for your reserves.I know it's probably not the answer you wanted to hear but you don't want to be caught with your pants down with an unexpected expense, eviction, or vacancy.

@Ryan Horne , I'll add one more thing that can get you a loan - having an amazing deal.If you are bringing me a property with tight numbers, one unexpected thing - and there's always at least one unexpected thing - can blow your budget out of the water.If you bring me a deal with a giant spread - and can back up the spread with real numbers - I'm far more likely to lend on it, because even with one giant unexpected thing, you can probably turn a profit, stay in business, and most importantly, pay me back.

You need to understand the basic math and components that go into analyzing a property before worrying about using a calculator.  

There are going to be setbacks and unexpected obstacles, but you can enjoy the finished product, if you keep at it.  

Note that this condition does not require the loan to be fully amortizing, meaning that a balloon payment can be a component of a one-property exclusion loan.

Sometimes it's a good idea to drop in at their place unexpectedly with paper work for them to sign during the screening process.Aside from that the only thing lacking was your inspections.

There was a comp on one of the appraisals with the same model as our house that was 500 square feet smaller than ours and the appraisal came back on our house with a lower value than that home.  

I ran a "check this price"comp on zillow then bounced it off a few other websites and it averaged about 100k but I trust you guys.

Of coarse there will be surprises & unexpected things that you can't plan for.