Hey all, New to BP, love the money show and will listen to the REI one on occasion too.My wife and I have just paid off our New primary Residence (In cash) and are fixing up our first home for sale.As we are 31 with a paid off home that is big enough to support us long term so with that firm footing we are going to start investing in real estate to supplement and eventually replace our incomes and the way will do it is thus;-Save a 20% deposit- roughly 80k (the cost of housing here is high but the maths works well enough)-use all tenant income and a good chunk of our working income towards paying down the mortgage aggressively.

So far I've run into walls since nobody wants to touch a mobile home with a ten foot stick but I'm sure there is a way to do something.

Many people really shoot themselves in the foot from a liability standpoint, which is usually (ironically) one of the main arguments for transferring the property to an LLC in the first place, without realizing it:You will have homeowners insurance on the property, right?

If I had a Partner I could trust, I would arrange a deal with them to live in the back 2/1 block house and we could Airbnb the 1400 sq. foot, 3/1 Bungalow house in front for maybe $200 a day.

So if your garage is 1000 squre feet then you need 1000 square inches of holes to take the bottom floor (your garage) off the rating consideration.​There are also a few more thing to conder when putting the holes in you need to make sure they a no more than 1 foot up (this might change per your area so you need to refer to the document here for guidelines https://www.fema.gov/media-library-data/1585162441620-bd1b5b0d5cf34eda30d6363c63290d9a/FEMATB1_508_031320_rev.508.pdfSo then the question is do you get a new Elevation certificate (EC) or can you just show photos that you have updated the structure.

You can break it down to dollars per square foot to get to more of an apples to apples size comparison.  

If it does, then I think you should be on pretty solid footing as long as you do good tenant screening.

We're looking for something we can fixup, househack, you know get our foot in the door.

The prices are significantly lower, taxes are less heavy and the job market is robust here.

Does anyone how determine the proper lease rate per square foot.