I've been blessed and cursed with acquiring a mobile home.

You don't want to insult them by bad-mouthing the property, but you could mention the strengths like the location and that you're interested in modernizing it or something.

Purchase price: $155,000 Cash invested: $50,000 This is a 1975 mobile home but it has fantastic potential.

Do not include retail or luxury properties.1. apartments2. homes 3. mobile homes4. condos5. properties that need to be flipped6. notes7. storage facilities 8. other (explain)

@Marita JojoFor me, if the look and feel of the house is more modern and/or updated, I replace.

I manage mine from 4.5 hours away and would be happy to share insight, but essentially a strong housekeeper, local handyman and a working phone with mobile app capability is all I need to run our cabins.  

@Pwin Kumar, I suggest listening to one of the following podcast shows: Mobile Home Park Investing (host: Kevin Bupp and Charles Dehart), the Mobile Home Park Mastery Podcast, and, of course, BiggerPockets has a few good episodes on MHP investing.

My goal is to start off conservatively focusing on cash flow.I’ve found a mobile home deal in my hometown in TN.

There's no economic mobility for the tenant - they can't afford to pay market and there are no new units available at $550.

My goal is to start off conservatively focusing on cash flow.I’ve found a mobile home deal in my hometown in TN.