It's on a small lake and most regular manufactured homes in the area similar style are renting for about $850 with no lake. 

HI Troy,Regarding lending based on DCR and cash based debt coverage, DCR is mainly used by commercial, local, and business oriented bank loans, while conventional financing and residential 1-4 lending generally focuses on debt to income.45% Debt to Income (DTI) = $2.22 dollars of cash flow or gross income needed to be shown for each dollar of monthly obligation you're looking to qualify for50% Debt to Income (DTI - $2.00 dollars of cash flow or gross income needed to be shown for each dollar of monthly obligation you're looking to qualify forThe above are some examples as each bank has different ranges of requirements.If the max is 45% DTI and the borrower is seeking a mortgage of 1500 but net rents are 750 then they are seeking to qualify for a net -750 which requires 2.22 times the income to receive an approval which means they need 1665 gross monthly income.Hope that example helps conceptually explain the residential vs commercial lending aspect.

I follow Sean Terry and Chris Chico, I think both styles blended together will create the empire that I desire.

I agree with Minh we should look hard around in the Bay Area before going OOS.Like you, I am also a worker bee at a tech companies, so flipping houses is a fun side business for me, it is not for everyone, you just have to find what you like & what fits your life style & bottom line.Good luck!

I would like to focus on Turlock as it is a college town, has many amenities, convenient to the freeway, and has lots and lots of craftsman style homes in decent areas!

This is a 2/1 older cottage style home in a C+ Neighborhood. 

It is fitting with the style of the home.

In addition to our regular criteria comparing size and style of house, bed/bath, acreage, age, etc, we might toss assessed value in there just to see what comparably assessed properties are selling for.Another way I've used the assessment is to calculate a ratio of assessed value to sales price.

I have an accepted offer on a 2/2, fully furnished townhouse style condo on Cape Cod (my first besides my primary house) and expect to close in November.

Our strategy has been turning a transient life style into one that allows us to buy personals and turn them into rentals when we leave.