No flip goes exactly according to plan, you'll find extra things along the way that'll cost you.Finally, if the ARV and rehab are correct, I suspect that the listing is underpriced in an effort to create an auction-like environment with multiple offers bidding the price up.  

I worked with a buyer that did something like this a few years ago but not sure if its even still an option in today's environment.

You can look at the principal pay down as return your down payment, which yields about 7%.We're living in an inflationary environment where rents will continue to increase over time as to once you bought, you have fixed your housing cost for the next 30 years with the exception of your property taxes going up at 2% annually.

I know this is an incredibly tough question without seeing the homes, but what's the average cost to bring a mobile home in bad shape in the inside up to "rentable condition"?

I already have it in my lease that the pet has to be maintained in a clean and hygenic environment (a.k.a no pet smell/mess).I do not charge a pet rent since the rent is already at the high end of the market, but the tenants do pay a pet deposit that is equal to half a month's rent.Hope this helps.

While I don't do a ton of rentals I know the sale market is incredibly hot down here and getting prices close to north of gandy.

Mortgage rates are incredibly low right now so it is a great time to get into the market.  

That way my mom is in a set environment and I'll be the one moving.Could this work out?

That would be incredible for them @Bobby Thompson!

You may be able to do what you want to do in a far more appealing business environment.