Staying local and house hacking—especially now, before kids—gives you so much flexibility to set yourselves up for long-term success.Your financial foundation is super strong, and house hacking a quad sounds like an amazing first step for you two.

This deal showcased how strategic planning, targeted improvements, and a strong partnership could deliver impressive returns.

Property taxes will likely be reassessed based on the transfer value, so confirm local rules to anticipate potential increases.If you hold the property for at least one year, you can use the equity as collateral for a construction loan, aligning with your long-term financing plans.

Assuming a 40% expense ratio, the net operating income at the current income level would be around $19,440 annually and $28,800 after renovations.At a $360,000 asking price, the cap rate based on current NOI would be 5.4%, which is low for a park with park-owned homes and required renovations.

Personally I am not finding deals that could support those strategies in my market today based on my current skills and available time. 

They're highly popular for turnkey rental properties because qualification is primarily based on the income generated by the property itself rather than the borrower.

The cash flow that you need to achieve should be based off the rest of your portfolio and your financial situation as a whole.

The home was built in 2006, great neighborhood, close to the highways, close to everything new that is being built, close to a military base.

Lots of folks are pulling out cash based on the appraised value for their next projects and holding for a few years to benefit from appreciation. 

We are based in NYC but are considering (as of now) locations outside of NY but within a 300 mile radius.