Review your state's landlord-tenant laws and give them a Notice of Non Renewal as soon as possible.

Fast forward to Nov. 2020-The City of Daytona started issuing fines up to $15k for even POSTING on any STR site, even if you never rent a single day. 

Same goes with contractors you hire later for similar issues you fixed yourself in the past.

If you don’t have the cash and don’t have a preapproval or commitment from a private money or hard money lender but you are making cash offers, that’s an issue because you either can’t close or your going to lose your EMD and waste a lot of time.

As long as it will pass an appraisal and not be "Subject to" major issues you can get a renovation or personal loan for work.Unless you are cash fluid and can add some cash back into the property and then pull back out on the ARV refinance.

Plus some of these are on ground leases, which can create financing issues down the line.I have nothing against manufactured homes, but I think it would be beneficial if there was a comparison for short term and long term historical performance on both rents and value.

@Joseph SheahanI can speak to the refinance portion: As long as a guarantor with good credit has at least 25% ownership refinancing should be an issue.

It's worth spending a couple thousand dollars to get the facts about what you can and cannot do and to be guided through the process correctly the first time by an attorney specializing in these complex, ever-changing laws.

A single maintenance issue could easily turn a positive cash flow into a negative one.

I think it's less of an issue of which is better and more of what are you comfortable with?