It includes a 3-bedroom, 1-bathroom ranch house along with a private street hosting a small mobile home park with 5 units. 

Hello everyone, I’m in the Tidewater area (South Eastern Virginia) Investing In Mobile Homes.

First, ensuring that each property or group of properties is held in a separate LLC can limit exposure, confining potential liability to the specific entity involved.

Purchase price: $225,000 Cash invested: $55,000 Single-Family mobile home.

We focus on small multifamily rentals, and mobile homes with land.

@Christopher RankinThe CRM I use is called REI mobile, its specifically designed for real estate investing.

But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).

Entering 100 expenses at the end of the month is very time consuming compared to Quickbooks or Tiller spreadsheet, plus you cannot do this through the mobile app.

The house was originally a mobile home that has been added onto and now 'looks' like a normal house.

Can the property repay with cashflow (not typically looked at for SFR but for 2nds we do on properties like mobile home parks with super low LTV, we have to know they can pay off with property income and not a refi since most bank loans I've seen on these asset classes is closer to the 50-55% LTV mark.)Just a few thoughts off the top of my head.