Maybe it sounds bad, I don't know, but my goal with investing is not to spend all day "pounding" the phone calling, but rather to develop a steady source of passive income so I can do what I enjoy such as playing golf with buddies on a Wednesday.

@Todd Keith I'd agree with Kory here on staying away from those areas... but the area's he's suggest (I live in one of them) are all way more expensive and probably won't cash flow.I'm personally ok with neighborhoods with crime if rental demand is really high, but only if the local landlord tenant laws are very very landlord favorable.

At this point we've been reduced to just calling police for noise complaints when other tenants let us know but I'm not sure if there is anything else I can do shy of aggressively demanding the other owner get his tenants under control.

Unless demand for MH is red hot in this area and you can sell them off in 24-48 months, this deal looks like a time/capital black hole.

You gotta pay to play.

My main points on new construction is its location and demand it needs speed with a good scope of work and plans and good contractors. 

It's nice to have all 4 components of making money in play for a S2 w/ wrap, but 3 out of 4 is never bad. 

DTI and other financials will still be at play, I think, but best to get the lenders policy on those loans directly from them.

The discounted price difference, does that come into play, i.e. come across as a taxable income? 

Did I interprete this wrong or PM is playing a smart one on me?