I resided in the home until summer 2020 (total 2 yrs 9 months) and then deployed overseas for the next 4 years; selling the home in June 2024.  

@Jason Wray, I totally agree with @Brandon Croucier's comments.

Some numbers:Expected 2026 income after raising rents to market value and assuming 7% vacancy: $144k.Expenses: $14k property management, $18k property tax, $10k insurance, $10k utilities, $8k in repairs/maintenance/advertising/admin/etc: Total operating expenses: $60kNOI: $84kBased on 6% cap rate that brings the valuation to only $1.4m, or $1.5m based on 5.5% cap rate.

But I'm getting a pass because the IRS does not verify and does not even ask.Don has a more difficult time with his auditor because he does not have Form 1098, and he does not want to show a form with my name on it, for obvious reasons.

So of the total interest you paid on that HELOC 62% (80k/130k) won't be deductible.

Obviously the ideal way would be to split the lots and rent the lots to mobile home owners but that seems like a very small market.

Now purchasing a home with cash is always good b/c obviously cash is king but also I think the part you might've missed is that, the money your utilizing on these home's won't actually be yours, but the banks or whatever institution you used to fix the home or make its value worth more.

Total build cost?

Also appreciate your doing it to encourage others.  1) Totally understand where your coming from.

-Max LTARV is typically 75% -Is a 12-24 Month Interest-only loan with a balloon payment - Minimum credit score is typically 600 -Interest on the Rehab is usually paid per the total drawn amount.