They don't have to right to expect you to improve it.

However, since it's mobile, you can rent them out, and develop a Self-Storage Facility WITHOUT having to pay property Taxes - Because the units are mobile, not "permanent improvements"! 

@Leigh Ann SmithProperty values for this year are already set so 92K will be the value for 2015Property values are based on the condition of the property on Jan 1 so if you bought now and renovated prior to Jan 1 2016 you could very well be valued on the improved value. 

And I am a Lowe's employee and get great deals on home improvement items.

To summarize, it says a “Real estate broker means a person who, for another and for compensation or with the intention or expectation of receiving compensation Sells, exchanges, options, purchases, rents or leases, or negotiates or offers, attempts or agrees to negotiate the sale, exchange, option, purchase, rental or lease of, or lists or solicits prospective purchasers, lessees or renters of, any real estate or the improvements thereon or any modular homes, used manufactured homes, used mobile homes or other housing offered or conveyed with any interest in real estate" This is black and white - if you try to sell a house you do not own, you are brokering.

Great job on this @Drew Purvis  How great is it to learn how to improve for next time and still get all of your money out on a refi? 

On a $2 million purchase, that’s $100,000 to $200,000, significantly less than if you purchased it with a loan.If the deal goes bad, you don’t have to exercise the option, so your downside risk is limited to your option money, time, and improvement costs. 4.

In Connecticut, houses in flood zones have limitations on improvements before the house must be brought up to full FEMA code.

Those are to very good areas that have seen great improvements over the last five years.

The tenant pays every month, keeps the inside very clean, not just maintains the lawn but has improved it far beyond its state when he moved in, and never complains about frivolous stuff.