I understand the concept and it may be useful for some people who have difficulty managing their money by giving them a structure, but I do better myself.That's cool, but this is what's hard about this subject.

I don't think you are going to be able to get insurance for two separate living units in a single-family when they are both illegal and likely do not have the correct egress windows (basement) for fire safety which could subject you to huge liability if something happens to either party.

Timing is key—catch a hot market or a great 1031 exchange opportunity.

Isn’t it interesting that although this is NOT a thread for a political debate the “leftists” just can’t accept when they’re subject to the same laws of economics that we in the competitive marketplace are?

I've purchased land with a mobile home and took the mobile home subject to.  

Picture this: 3 pools and hot tubs, a dynamic game room, a versatile venue, pickle-ball courts, outdoor theater, mini-golf, and more.

that isn’t subject to higher down payment requirements or higher interest.

This area definitely gives you good weather year round, summertime gets hot so as long as you're getting systems serviced before then and then in the fall you're usually ok. 

I may explain that while I’d like to buy/finance/invest in his property, I need to earn a certain return on my invested capital for the given amount of risk, and if not able to earn the return on the subject deal than I will on the next deal.  

This is a hot topic, and something I go back & forth on.