@Lucas Miller its not total to blame but its main factor, if the cost of the investment raises then something have to change. unless the investment become a better grade asset. like a market that is maturing and becoming Premium market like DFW for example, the base line of return is lower and will stay lower moving forward. 

I’ve heard not to factor much for mobile homes in purchase price but clearly he has figured up his price based on the total rent he is receiving.

Is it an important enough factor to impact it getting rented out and future potential for appreciation?

Zoning, what utilities are in place or are available, easements, views,  and what a buyer would intend to use the property for are all important factors. 

Unfortunately, there is no shock factor for me on this one. 

Probable if you have more than 4-5 people at most and lots of "silent" partners if would be much safer to formally syndicate.If those two factors are in line might make sense to draw the line at a certain purchase price, Unit count or expected NOI.

Land has a lot of factors that can have a huge difference on the value.  

Not necessarily on interest rate, but on other factors like interest only period, Prepayment penalty and floating rate versus balloon payment.

I think that buying it off-market will save me the 6% realtor fees though I do have to factor in the wholesaler fee.I still would like to spend more time looking at the potential rental income but I don't think I'm too far off. 

. $9,450. 30-year fixed, Interest Rate: 5% Rental Income: $3,900 We will be living in one of the units, but for the sake of the analysis I am going to calculate both units as rental income and factor in my costs at the end.2 Unit: $1,600 + 3 Unit: $2,300 = $3,900/moTotal Expenses: $2,832 Operating Expenses: $1,434/moMortgage Expenses: $1,398/moResults Monthly Cash Flow: $1,067/moMy Unit’s Rent: - $1,600/moOur Cost of Living: -$533 / 2 house hackers = $266/mo.Biggerpockets Property Rental AnalysisIn conclusion, if this house hacking plan is accurate and realistic, I would cut my monthly living costs from $850/mo to $233 (excluding utilities), and would have purchased my first rental property.