HMLs are ideal for value-add strategies, where investors purchase, rehab, and then reappraise the property to pull out equity and reinvest, or to sell the property. 

I highly recommend that you read the book "Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple" by David Greene.

Also this sounds like a great strategy, however I would caution about using too much leverage.

Debating on what strategy to use as I try to grow my portfolio.

While night shift is not for everyone this strategy has paid off big time since I started investing in real estate about 5 years ago.

So in the end, I will be putting 4 new mobile/modular homes on these lots.Exit Strategy: Rent long term or Lease option to buy.The price of the "Farmhouse" is $175kRepairs: Pressure wash the house, paint inside and out, replace flooring: $10k$15k for fees, inspection, or any other unforeseen expenses$20k for Mobile/Modular Home SetupThe price on the 3 acres behind the farmhouse is $80kRepairs: Paint and new flooring $10k$15k for fees, inspection, or any other unforeseen expenses$20k for Mobile/Modular Home SetupTotal: $645kI have a lender who is willing to cover the deal @75% of the cost.I have a Gator who will cover the EMD.What I need is someone to help me with the Gap between that.

You can designate ownership 50/50 between you and your partner. 

Hi Tracey, We use Melvin from Panda Homes (can't post contact info as BP doesn't allow it) he does design and construction so he can also help expedite your plans.

I've always been cautioned by realtors to not be aggressive in lower bids as "you don't want to insult anyone" but maybe that strategy doesn't apply as much here? 

My best advice is to keep analyzing properties and different scenarios to gauge what might be the best strategy.