With an asking price of $200000, and monthly rents of ~$5200 the CAP rate comes to about 16% - Normally I'll take that any day, but the prices per square foot of the closest recent sales, a few blocks down, would bring the value of these properties to range between $120K-$150K.

The real estate market and lending arena has never been on more stable footing then it is currently is opposed to the house of cards it was then. 

@Delmas Edwards You will not find a conventional/commercial lender that will foot the down payment. 

Builders, what is the cost per square foot of construction in your area?

I'm posting because I believe many are hung up the way I was, until I put my foot into the pool and found out that any type of real estate endeavor was achievable if I didn't count on anyone else to do it for me.

I'm now a floundering fish out of water at the foot of four year old... 

I have to giggle up my sleeve every time I see the Manufactured Housing Industry continue to shoot itself in the foot.

There are some neighborhoods and suburbs that are exceptions, but I cringe when wholesalers email me "GREAT DEALS" on the east side of town when they personally have never set foot in the city.  

My husband said it was raising a red flag for him.... and then we noticed a 1 foot moldy water spot on the ceiling that was coming through the fresh paint. 

However, THIS trailer I'm looking at buying is further away, so the flood height will be lower… perhaps 1 foot.