Updating plumbing, electrical, etc. is not as expensive as most folks think, especially in smaller homes that are abundant in the Detroit market.You also have the budget to do BRRRR's in a market like Detroit, but please don't try and go that route on your own. 

Even in an area like Lynn (North Shore) the margin between gross monthly income and all expenses based on an $800k property would net us approx $-2500/mo.

From my knowledge it really depends on where you are in Newark, I know there are many expensive areas and not so expensive areas.

Even with the additional maintenance expense we still drive a 66% better NOI than if the entire park was TOH.  

Learned that STRs can be expensive!

The houses were less expensive so the risk on my end would have been lower but time is money and I could have spent a ton of money driving. 

Your CAP rate will be dangerously inaccurate if you calculate expenses incorrectly so let's break those down.Utility Set-up- As an overview you need to know the difference  between city-provided utilities and onsite such as Septic Tanks with Leech fields, lagoons, Wells, EtcGetting more specific what utilities are maintained by the community, paid by the community vs the tenants.I will give you a quick example, I own a park with a bunch of multifamily manufactured units of which I pay the electricity bill.

Once again, we find another recession indicator flashing red.Given the multitude of economic crosscurrents, it’s crucial to seek the best assistance available to mitigate taxes, and manage expenses to navigate through potentially turbulent times. 

Personal name: Less expensive, less protection. 

In the beginning, I wanted the classic small multi family house hack, but have quickly found that that's not feasible with my situation -- they're very expensive and of the few available, they're far from penciling and cashflowing.