We just started managing 4 tiny homes on 1 lot with a shared pool and they are booking great at a rate commensurate with larger homes.   

For that same capital, I can buy a run down project and renovate.

So, make sure YOU understand the copy & paste info below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Chris Kay it depends what level of renovation you are doing!

I am bullish on the FHA 203k and home-style renovation loans that allow you to leverage the cost of your renovation as part of your mortgage, which is just an insane deal, in my opinion.Do you have a specific area where you want to purchase?

Renovated Hey @John Perkins, welcome to the BP Forum and nice work!

Investment Info:Townhouse fix & flip investment. 109 W 132nd St, New York, NY 10027, is a meticulously renovated brownstone townhouse situated in the heart of Harlem.

That unit with the waitlist is the only pet-friendly home (duplex) with a fully fenced-in yard accepting more than 1 pet, including larger animals. 

I think the area is short on larger (4-5 Bedroom) homes that can really accomodate a whole family.  

@Ezra Avery you might want to read below to understand Classes of Property/Tenants.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?