Here's some basic copy & paste info that may help you make better investing decisions:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Have your closing docs out and know what ratio the county assessor applies to land value (ie 300k assessed value, $50k land =1/6). 

Nothing illegal about doing that, but if caught, the lender may call the loan due and if you don't correct the situation or pay the loan off, they willstart mortgage foreclosure.3) You could also go the HELOC route to tap the equity in the home, but the 12-month owner-occupancy will also apply AND the interest rate on the HELOC will fluctuate with the Fed Fund Rate.4) You could do a cashout refi as an investment property, but that will be at an interest rate 0.5-1% higher than owner-occupied rate.Suggest you meet with 2-3 lenders to explore your options about the above.Once you have access to funds, recommend you buy a 2-4 unit with 20-25% down. - You can buy owner-occupied, live in one unit, and fix up and rent the other unit(s).- If you're handy, recommend buying a property in the worst condition you can tolerate.

@Derek Harville If your grandmother gifts you the trailer, you inherit her original cost basis, meaning if you sell it later, capital gains tax could apply.

It would depend on the nature of the repair.

After several hearings, we reached an agreement: both parties agreed that if the tenants applied for government assistance to cover the overdue rent and committed to paying rent on time going forward, the eviction process would end.

Your GC will know how to apply for the correct permits.Avoiding the issues in the future is a function of respecting the permitting process in the first place.  

Too much buying, selling, and human nature to just forget about it and let the compounding effect of time do its magic.

This only applies to 3-4 unit properties.I think you are on the right track, as this is an equity play.

I am not an expert on your market but I will give you some advice that should apply well tov most any market:1.