Easy Street is a good option BUT you need CASH in liquid checking/savings for down payment of 20% and BIG chunk 2-3 times loan amount to buy out of a prepayment penalty.

I do not have to much cash for a down payment but was thinking of doing a HELOC on one of the rentals to get more cash and go the BRRRR method.

Plus, I'd prefer to take baby steps before investing out of state where I could better afford a 25% down-payment.

Seller was behind on pay HOA payments and in risk for losing the property.

This is 5 mobile homes and one building being remodeled as a storage unit. 4 park owned homes and 1 tenant owned home.

You want to buy real estate with no savings, which even if you can scrape together a 10-20% down payment, means you will have no cushion to fall back on when the inevitable surprise expense happens. 

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.

If the prospects look financially shaky or sketchy, I ask for the name of a co-signer - and collect payment for a background check on them.Verbally, I also ask when they are interested in taking occupancy, and I tell them the application will be made part of the lease agreement - that I can evict them if they've lied in their application.

Full credit/background check:  Look for missed payments, and any theft is always a no go.2.)

Evict the tenant for non payment of rent.