Generally, these will be lower income neighborhoods which already had problems.BUT, for those neighborhoods which had a strong support base and higher incomes, they could afford to have a volunteer Fire Dept, hire private security to drive the neighborhood, and keep the quality of their education for the kids up via private schools, which are generally expensive.When the down turn happens, richer families which sought to save money and chosed to live in the lower income neighborhoods, find themselves leaving the lower income neighborhoods and moving to the safer, higher income neighborhoods.

An S-corp can save some taxes on flips but won't help with rental income. 

I'd also have an attorney draft the land contract so you don't have problems later by using the incorrect documents, you should try @David Soble of http://www.ProvenResource.comI've been investing in Metro Detroit since 2003 and have seen many crazy things happen when tryong to do everything yourself to save a few bucks upfront only to lose it all later.Feel free to reach out anytime.

So i posted on here that i was new, looking for knowledge- but not for free, willing to put in the work or small investment that I've saved in order to bring value to a mentor.

Even through the numbers worked, I'm concerned about depreciating value of the mobile home, and saving up cash for refinancing. 

I have some savings, future employment is an option, and looking for multi-family properties to rent...also interested in flipping.  

That $1000 savings now is going to cost you a LOT of stress and, ultimately, money in the future.

If you have access to conventional financing and have the down payment and rehab in cash, you will save a lot of money but you won’t have as much leverage.

Saving on monthly management fees, overpriced maintenance, and the stress caused by trying to understand if your property manager is actually working for you, or the guy next door.  

The FinancialsPurchased our "starter home" brand new in 2010 for $166,490Zestimate is currently at $281,510Mortgage Outstanding Principal balance is $137,331.69Monthly Payment (PITI) is $1,159.24Rent Zestimate is $1,625 /moIn case it's relevant, our budget for a new home is $450K and we have 25% saved for deposit.