@John Underwood So I create my own and there are two listings?

if you wait to take cash out or save it you are going to be waiting for home prices to rocket up in sale price.Mortgage rates are dropping and will continue to drop into next year so that means a few things. 

The mortgage payment is $1,000 on each house, so you earn $500 per house or $2,000 monthly.

Yes, I have answers to all questions.MH is freestanding (not attached to land, so not real estate).  

As I embark on this journey, I’m eager to learn more about the local market, connect with fellow investors, and engage with the vibrant community that makes this city so special.

The jurisdiction of its a safety hazard or blight my require it to be demolished and you do not want to start getting fined for it, so that is something I would consider.

So far with the properties that have looked promising we have utilized the calculated NOI / Cap rate to determine the value and every one we have done has come up way lower than the asking price and in one instance came up less that what the current owner paid for the place initially.

So I'm going to be on top of the rehab.

If you are doing single family rentals, I would suggest 30-50% of the acquisition price so you have enough for down payment, closing and some reserves. 

If so you can rent rooms to anyone and nobody can stop you.