Purchase Price: $300kMortgage Payment (Interest Only): renegotiating to $500 Taxes: $375/monIns: $100/monLawn: $100/monVacancy/Repairs/CapEx: $300/monTotal Monthly Expenses: $1375Total Monthly Rent after Reno: $2000/monTotal Monthly Cash Flow: $625Rehab Budget: $50kTotal Annual Cash Flow: $7500Cash on Cash ROI: 15%Build New: The biggest barrier to entry is the size house this neighborhood calls for.

I do know it's an expensive software however depending on the size of management company will determine value. 

At that point you need to show net worth and liquidity, as well as operating history for an asset that size OR have a professional PM lined up.

I have found a house in our size/price range (locally...we are not going out of state). 

The affordable units are not subsidized, they are rent restricted, and the max rent you will be able to charge for that unit is based on the following which I pulled directly from a density bonus agreement:The monthly rental rate for each Affordable Unit (which shall include a utility allowance based on the utility allowance schedules published annually by the Housing Authority) shall not exceed 1/12 of thirty percent (30%) of fifty percent (50%) of the Area Median Income, as adjusted for assumed household size and utilities.

Makes sense for such a size through LLC.

Due to the extremely small lot size (.3acre) and a small stream running through the backyard - the state approved a special 4 bedroom septic system design by a professional (after months of working with the state and with 12 state rules broken), but was denied approval for a multi family/duplex septic system design (after months are trying).

We currently have a roof sized heavy duty tarp covering the entire roof and are at a standstill on that issue.

I've thought about syndicates but prefer the challenge of trying to create a good size portfolio on my own.

@Rachel H. thanks for the reply its zone for Residential Uses (R-2) ie: Manufactured Home, Multifamily Dwelling, Two-Family Dwelling (Duplex) and etc. but NOT for Manufactured Home Park. but a Manufactured home park: A parcel of land at least five (5) acres in size on which a minimum of ten(10) developed stands are in existence for lease or condominium ownership and two (2) mobile ormanufactured homes are occupied as separate residences.