Quote from @Sufyan Ahmed: I have never purchased a house before as I like living in my 2 bedroom rental apartments. 

Ugh.In all seriousness, I think for $50,000 with a 1200 square foot house in Michigan should be able to modest rehab.

Fico while they will look these are not credit score driven loans like those buying rental houses or houses to live in...

Quote from @Khon Kounbandith: The house was in good condition. 

Don't split the work between multiple contractors if possible, finding one to do all or most of the work will keep prices down.Challenges were finding replacement pieces for certain items as manufactured homes were very different than stick built as well as going through state guidelines for affixing the house to the land Hey @David Jesperson, welcome to the BP Forum and congrats on completing your first solo deal AND making a nice profit!

Plus, we had a family in mind that were looking to rent a house.

house hacking is still a very good option even in this market.

Sitting on 10 acres , build a few more houses 

Fannie Mae has a requirement that if you want to use the rental income from the non occupied units, that you MUST have a current housing expense which means you cannot live rent free.

I actually recommend house hacking as a first step if possible.