Being a W2 has its downsides!

That leaves considerable cash flow because of the small mortgage.Is it worth dealing with the downsides of buying and renting in the less desirable urban areas?  

As long as the seller agrees, there is no downside for you as the buyer.

Any downsides that I am not aware of?

Don't see much downside except that getting the tenants to agree to own their trailers is likely doubtful. 

Hey @Erin AndereggUnfortunately, this is one of the biggest downsides to the FHA product and can really limit someone like yourself who is looking to turn and burn on house hacks every year.

Several downsides to land contracts are the property is in your name so nuisance liens etc attach to the property, until recently you would have also been responsible for unpaid utility bills as well.With states getting more stringent on land contracts and forcing you to foreclose in many you are now better off with a mortgage and note.

I find both the upside and the downside to be better than rentals.

That means you have a big-time syndicator with 4,000 deals who is an equity partner and has downside risk in your deal.

Make sure you talk through downside scenarios and how you will deal with them.Feel free to DM me if any specific questions.