Depending on exactly how you do it, you have a contract to purchase a property, an option on the property, or ownership in a company that has one of these two.

The recordings done as part of the closing will get the ownership changed in the assessors records.

Should the monies the property owner defers count the same as cash investors, as far as percentage ownership?

I am asking about investing not home ownership.

We take title on properties as our two corps with a 50% ownership share.

First MHP we had we bought and sold 40 MHs to happy customers who never would have qualified for home ownership without us providing financing - at 15% - for them.

According to the people at the presentation:http://www.tdhca.state.tx.us/mh/The FEMA trailers were not designed to HUD specifications and will not be allowed a SOL(Statement of Ownership and Location) in Texas.

In order to do that we also had to change ownership out of the LLC to the individual partners on the properties and agree to a stipulation that the properties would not be transferred back to the LLC with the understanding that if we did the loans could be called due.

A quiet title action is not to extinguish legitimate ownership interests.

Notwithstanding the above comments (which I agree with), to answer your underlying question (disregarding the effect of depreciation and recapture):Gain = $31K - cost of sale (commissions etc) - any capital improvements made during ownership periodIncome each year = $19,200 (assuming zero vacancy, substitute with actual income collected) - interest (NOT principal) - taxes - insurance - utilities - maintenance - any other expenses