You should also verify whether the lease agreement allows for ownership transfer without landowner approval.Owning the trailer means assuming responsibility for lot rent, potential removal costs, and liability risks.

You can mitigate risk along the way.

Of course, every owner's situation is unique and factors like the legal entity involved, purchase date, adequate passive income that can be offset with the cost segregation study, etc., will need to be considered.

“How” they live together is more involved.

The terms may be more favorable, if you are just starting out a bank maybe nervous to do 3 at once, therefore their perceived risk will likely be reflected in less favorable terms.     

You won't find a deal where you live for free, but if you can live in a great neighborhood at a reduced cost of living that is a nearly risk free way to get started in real estate. 

Are you able to get a partner involved? 

I would probably take the risk at $500, but $1k feels more of a ripoff like most guru programs. don't waste your time if they don't meet your criteria there is ZERO chance they will meet this guys.. remember they make their money with you folks dreaming of making money and paying for the dream.. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.