Or would I only be taxed for the equity which could be paid over 5 years?

Our inspection report came back on Feb 21st and the home tested positive for Radan.

While the 1% rules and deals with significant equity have become increasingly difficult to find within the 270 outer belt, there are an abundance of these deals to be found both off and on market in the Columbus' Tertiary Markets.

Finding properties that need a little love, put some sweat equity into them to make it really shine, then rent it as a STR. 

Increased Institutional Investment: Large investment firms and private equity groups are recognizing the potential of mobile home parks as a stable asset class, driving up purchase prices.

Might I suggest exploring some sort of position working with a developer; D.R.

Its much more achievable than 20% on an investment property. and I play the long game and rely on the equity I build versus living by the cash flow. 

I could keep in a Money Market at 2.x% return OR, what if I kept the $40K sitting in the additional equity of the property that I could tap into the line of credit in the event it was needed.The quick math:A rental property @ 8% cap rate - 6.190% floating LOC rate = 1.8% interest rate arbitrage on the extra $40k sitting in equity.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation.