I bought a crappy 2 bedroom house for $2,000.

The only way around that is to get a bit more creative like get an 80% tard. loan, and the 10-20% balance from a line of credit or preferably a HELOC which has the lowest rates/fees and the easiest to obtain.

there are a lot of variables, i.e. the condition of the trailer, how many bedrooms, the location of the park and how much you have to subtract in lot fees, taxes and insurance.

There are some pretty creative ways to deal with these down payments.

The Market determines rent.You'd be able to find market rent by calling on rental ads of similar properties in your market or scanning craigslist to get a ballpark idea.Generally in my area you are paying 1600-2500 for a 2 bed room in decent condition.Could be an entirely different story on the other side of town.

I asked this in the landlord forum and didn't get a reply (let me know if I'm stating it incorrectly please):I have an offer accepted on a property that is 2 three bedroom duplexes, and 10 garages.

If you don't have money for traditional financing, you will have to pursue a strategy of creative financing, without banks.

Everywhere has been rewired except for the 3 bedrooms & bathroom upstairs where there is still knob & tube wiring.

I would research everything you can on this forum, go to the library and learn everything you can about creative real estate investing.

Had an extension cord (tenant purchased) fire with a replacement value policy in one bedroom.