The Great Depression is coming again but I would bet not for another 10 years. 

Onciously it depends on the size of the house, and attic space.  

A lot also has to do with the size  and growth of the bank.

Technically if you have a decent sized upstairs you can turn your basement into one with a small amount of plumbing and electrical work.  

Your best bet is to ask the Seller to pull credit or to have a specific disclosure executed granting you permission from the Borrower to pull credit.  

age, location, size, and cost of replacement are all major factors for insurance, unfortuantely your purchase price doesn't matter too much!

. ;)@Craig Pfeffer @Rolanda Eldridge I bet you both will keep your eyes open for fire damaged houses now!

I dont know of anything right now that fits what you're looking for off hand, but there are some neat products coming out these days, I bet there's something out there that'd work for you, I've seen some stuff for out of country investors. 

I noticed others bid high on high end properties betting on getting paid off with a high rate of return and worse case ending up with the property.  

If I can make the lot rent and the monthly cost of the home close to what people pay for a similarly sized rental then its an attractive deal for many.