This will help you determine if it’s financially viable.Insurance: Look into insurance for both the mobile home and your land.

I also review the insurance costs and try to get a solid estimate of coverage expenses to fine-tune my calculations.

You need to carry a special type of health insurance, not the traditional kind.

It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!

Bernard- Akita- Wolf hybridsUnfortunately, these are prohibited for insurance reasons.

Even in the nice locations, most top out around $2,800.Of course there is also your increased insurance, vacancy, repairs, CapEx, and the never mentioned reduced rent on the main house since having a stranger living in your backyard usually isn't appealing to most renters. 

So should your facilitator.4) As a trustee, you can now write a check or wire money into any investment that follows retirement plan rules (no artwork, collectibles, alcohol, insurance, etc., and no disqualified parties).

Much of Florida is in a similar boat, especially since insurance has 2-3x in the past 2-5 years.

Weather also makes insurance more expensive - wind and hail damage properties. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).