that would be the easiest, non-complicated way to start, with less cash out of pocket.

The goal at first was just to find a couple properties to serve as a gift for my two girls down the road when the wanted to pay for school or weddings or whatever in about 15-20 years.

It is also one of the easiest strategies to accomplish in a competitive real estate market, as opposed to the BRRRR strategy or flipping.

If you rented the property to friends and family (declared the income on your tax return for 2020, had leases collected money even if you give the money back as legal gifts) then that is an investment property and would be eligible for 1031 treatment.It's all about the intent and how you demonstrate that intent. 

I was looking at tear down houses for 500K, contractors that won't give you the time of day, and guys on podcasts talked about picking up homes for 20K.Finally, with my gift of desperation, years of preparation though reading books and gaining no traction (So I thought), we looked in Pennsylvania, where my wife has a family.

Any payments on the balance remaining from the original loan must be included in the debt-to-income ratio calculation for the refinance transaction.Note: Funds received as gifts and used to purchase the property may not be reimbursed with proceeds of the new mortgage loan.The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV, CLTV, and HCLTV ratios for the cash-out transaction based on the current appraised value).All other cash-out refinance eligibility requirements are met.

As anywhere, deals are not the easiest things to come buy these days so this partnership has opened up massive doors of opportunity for us to build and ultimately grow exponentially. 

My tax preparation cost $100 more last year with 3 properties coming into service and the sale of one inherited property  than it did the year before with out any rentals in service yet.But in general answer to your question, people making $100 a door from the cost analysis spread sheets really make nothing after they count their gas driving to and from the property, the accounting, legal, gift giving, their time dealing with issues, etc. 

Then make sure that the ledgers you're getting match those amounts (it's easiest if the PM or landlord keeps a separate ledger for tenant and HA but a lot do not and it can take some detective work to decipher which payments are which).Section 8 is a great program when executed well. 

Then gift the mobile homes to the tenants and set their lot rent $25 above the highest park rent, assuming it is lower than their current rent.