We manage 275 residential properties with the majority of those in Sherman/Denison so I feel uniquely qualified to chime in.Generally speaking, 3 to 4 bedrooms are the most popular and for a new build, they will lease anwhere between $1600 - $2200 depending on the area, size and amenities.

And you can do it with little cash, 5% down conventional is better than 3.5% FHA.House hacking also gives you a chance to cut your teeth in all major skills: analyzing deals, buying process, financing, working with contractors, advertising for rent, background checks, property management.

So this is some kind of communal organization - there is a "mentor" at the top, and a bunch of "mentees" who do work for each other/for the mentor.Hopefully the asset is all in your name and your name only. 

You can say the best out of the limited number of lenders they have signed up under their company but not in general to the vast majority or finance options under all banks and lenders.

You sound very organized for a first-time flipper so it looks like finding that mentor is paying off.

Unless a MH is put on a permanent foundation on an actual privatley owned lot, the majority of mobile homes depreciate in value over time.As @Greg Scott mentioned, you can find cashflowing deals if you know HOW to look.

I want to ensure I’m doing this the right way while keeping my finances organized and compliant with any regulations.

You MUST understand this as the suburbs are usually much nicer than the city.All of these challenges are why we have a map of Metro Detroit on our website with the cities in Macomb, Oakland and Wayne Counties listed, as well as 183 Neighborhoods in Detroit.The majority of the 48235 zip code is Class C, the question is, do you understand what that means?

Having developed a majority of my career in CA the regulations and red tape for construction and development are intense. 

A lot has happened since starting, between material shortages in SWFL for a while, a massive hurricane, a period of power outage, damages to various parts of the city (and major damages to surrounding cities), high demand in labor/resources, a transformation in permitting systems, and a boom in construction in general.