This way seller cannot agree to terms you would not agree to.If current rent is way below market then tenant should be motivated to sign.

If you rented the lot for $200/mo and the overall expenses remained the same, then the LAND VALUE (or value of the MHP itself) would increase by $200*12= $4800/10% cap rate = $48000.

I think people in the medical field often are far more risk adverse than average and also don’t have the same “I hate my job” motivation to make real estate be their path out.

Erin - we recently moved here from Minneapolis with seemingly similar motives and ideals.  

Stay motivated and positive people.

We could save a ton of money over the life of the loan, if we were to hold it for the remaining time.I also discovered that we would break even very quickly on the ARM, in roughly 9 months.

Sounds like you have a great plan and motivation for financial freedom.The Rochester community is very supportive.  

With FHA loans, the mortgage insurance is higher and will remain for the life of the loan.If you are married, best route for your plan would be to use a HomePossible, then FHA, then have your spouse do a HomePossible, then FHA.

This means property will be slow to appreciate and rents will remain depressed because of he flood of properties available.  

If she actually wants to remains to be seen.