This is not a great return, but not terrible.As others noted, there are other risks, like having the property insured at full replacement or purchase price, or if the option is 100% seller financing with no money down or very little, versus 20% traditional down payment, this can start to move it into a better investment.

I'm glad it's saved you money, that's great that you got some use out of it.My top challenge is getting contractors to go out when they say they will =) hahahaha reliability of contractor, can't be replaced by some of AI stuffs.Be nice to contractor , AI is just new term for tech guy like us to make money out of new BS.

For example we replaced a water heater recently.

Thank you@Brian Lubeck I believe you need to call the local DMV for where your trailers are located and go through the process for a replacement title.

Maybe $8500 if I have to replace the appliances.

One golden rule I follow,if it takes a long time to fix/replace when it breaks, don't buy a cheap one.Imagine, this thing breaks in the middle of your peak season and the people who can come out to rebuild are 2 weeks out....It takes at least a day or two to build something like this even if you are super skilled.

Assuming that's true, I would recommend looking for a replacement property (or properties - you can purchase multiple in the exchange) with value of at least $725K (selling price).  

We had one where they wanted us to pay for the majority of the costs to replace 1 mile of sewer back to a larger main.  

The modest cash flow could be reinvested, eventually allowing me to build a portfolio of income-generating properties.I recognize your point about needing $2.5M–$3M in cash to consistently replace a six-figure income.

I definitely would like to have my own personal BRRR properties etc, but I want to learn the market and learn the game and yes replace my W2.