I am looking at an opportunity in my local area where there is a multiple unit mobile home park for sale.

We purchased the home on 04/08/2022 for $154,000 and sold it for $185,000 the same day.

We purchased the home on 04/11/2022 for $155,000 and sold it for $250,000 on the same day.

We purchased the home on 02/25/2022 for $155,000, invested $3,000 in renovations, and sold it for $180,000 on 05/27/2022.

If you are planning on buying it with a smaller down payment, that will also increase your mortgage costs as you are borrowing more and also need mortgage insurance.The price of the home (from the seller's perspective) is based on market value and condition, not on whether or not it matches the 1% rule.   

The monthly rent would likely be lower, but the entry costs and potential regulatory hurdles might also be less.Here are my main considerations:Rental Income: Higher in Berkeley ($2k/month) vs. potentially lower in the Midwest.Appreciation: Likely higher in Berkeley.Management: Easier to manage the ADU since it's close to home, but more regulatory headaches.Diversification and Simplicity: Potentially less hassle with a property in the Midwest.Given these factors, what would you recommend?

Does the home have amenities?

Aeotec Smart Home Hub is the best SmartThings hub.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

This is a great opportunity for a builder to subdivide the lots adjacently along the road and build their desired amount of homes.