If you do not understand how NOI and cap rate determine value, learn it even if in theory it only applies to commercial RE.If you flip, you realize the gain in the short term.  

I am not trying to accomplish anything other than taking advantage of some other homeowner's low interest rate rather than me purchasing a home with a 7% rate.

Low inventory and pent up demand are keeping prices higher (and still rising), even in a higher than previous (but historically average) interest rate environment. 

Rent can be increased annually, but expenses also go up (hopefully at a lower rate).

Rates range from $30 - 110/hr. 

its a 4  unit mobile home park, all POH, 100% occupancy with slightly undermarket rents  separate sceptic and a single well.At the asking price of $240K, there is 12% cap rate. 

Of course it depends on your goals, but I think no matter your goal, this area will satisfy and check all those boxes  for either.

With a $60/mo HOA(external maintenance not included with the exception of fencing) and 6.5% interest rate, my monthly mortgage (with taxes, insurance, HOA, etc)  will be around 2600/mo.

I originally bought this 40 unit apartment complex in 2021 in Nw huntsville, Alabama and since then we've maintained a sub 10% vacancy rate year over year.

HELOC until the rates turn around in a year or two.