In Phoenix, rents vary pretty widely even within the same city.

I just bought an old single-wide mobile home on its own lot and I was thinking aboutleasing it as "heated storage". 

I recently bought an old single-wide mobile home on its own lot and I was thinking aboutleasing it as "heated storage".

There is a grocery store nearby, a Dollar General, and a couple restaurants and fast food places within 1/4 mile.In the area (the other side of the park) they are getting $750 for a 2/br single wide and it is common to see $200/$250 a month for lot rent.  

Even though we area a small state we have a late array of properties that fits most investors' criteria actually.

Purchase price: $91,000 Cash invested: $45,000 This property was my first ever investment before the BRRRR strategy was so widely known.

I'm hoping this broader question yields some general principles that are widely applicable.  

My opinion is that you need to put your investment money into a wide variety of investments, real estate, stocks, bonds, etc. 

Here is some information I received from a lender in NJ let me know if anyone has any other information:VA Renovation Talking PointsPrimary Residence Only – Purchase & Cash-Out RefinanceProperty Type Loan Amount Min Credit Score1 Max LTV/CLTVStandard1‐4 Units ≤ $453,100 Minimum credit score 600 Max LTV/CLTV 100%High Balance1 Unit $453,101 ‐ $1,000,000 Min credit score 620 Max LTV/CLTV 100%Super Max1 Unit $1,000,001 – 1,500,000 Min credit score 660 Max LTV/CLTV 100%Eligible Property Types 1‐unit attached and detached SFR, PUD 1‐unit VA‐approved condominiums¹ 2‐4 units 1‐unit (double‐wide) manufactured home –eligible forlimited renovation product only Modular homes¹ Site condominiums in MI are treated as SFR.VA Limited RenovationNo minimum repair amount and maximum repair amount $35,000.00 including all costs Repairs must start within 30 days and be completed within six (6) months Maximum of 2 draws (Initial and Final) with written approval from the borrower at each disbursement Initial disbursement to cover the lesser of material cost or 50% of bid Final inspection and title search required for final disbursement  10‐15% contingency required (15% required when any utility is non‐functioning) Properties that require the following work items are not eligible for financing under the Limited VA Renovation Program:o Major rehabilitation/remodeling, such as the relocation of a load‐bearing wall; o New construction (including room additions); o Repair of structural damage; o Repairs requiring detailed drawings or architectural exhibits; o Landscaping or similar site amenity improvements; o House is uninhabitable at close of escrow o Any repair or improvement requiring a work schedule longer than six (6) months CONTRACTORS MUST HAVE A VALID VA BUILDER ID VA Standard Renovation  Minimum repair amount is $5,000; no maximum.

I'm seeing $750-1400/month on Zillow, that's a pretty wide range.CapEx and Repairs will probably be closer to 15% over time.I usually figure vacancy at 8%.