From what he has told me, he put $150K into the rehab and has a reno loan payment of $1200/month that he can't afford.

I spoke with the bank about given us an extra month or two before starting to pay the mortgage cos I can not afford to pay two mortgages at the same time.

I spoke with the bank about given us an extra month or two before starting to pay the mortgage cos I can not afford to pay two mortgages at the same time.

However, you might have to sell a kidney or several pints of plasma to afford the Pex fittings.

I can’t afford to invest in the area I currently live so I’m trying to find other options. 

Trust me if your tenant cant afford renters insurance that should be a huge red flag for his ability to pay cover his rent in general.

Single-family homes are generally more affordable and due to the higher demand and focus, they tend to appreciate more than MFHs.The valuation of single-family properties focuses more on supply and demand factors while MFHs are valued based on the rental income and the conditions of the property itself.

If you can afford 5% down, consider looking into those loan products as they can often remove PMI once you get to 20% equity whereas FHA PMI stays on for the life of the loan

Can the current tenant base afford paying higher rent?

Not to mention that it is one of the few truly affordable housing sectors that remains.