I also vote no-go.If everything goes perfectly, this deal on paper works, but we live in a world with vacancy, improvements, modernization, property management, and surprise issues (roof needing repair, needing a plumber, fixing the garage door,..)If your goal is to buy an investment, I can help you find better deals in the Twin Cities.if your goal is to buy something close to where you personally live at this point in time, you already have the answer.Again, I vote no-go.

It always starts great, works out perfect on paper and then it almost always goes sideways and it is never the family members fault.

Perfect for either investment strategy you're looking to do.

There are rarely perfect persons wanting to rent.

It’s a low income home so I don’t expect them to be perfect however I see now that collecting the rent is slowly becoming an issue each month.

For a weekend lake trip it was perfect.

Here's a series of steps, following the money (cash), to show why:1 - Profit comes only AFTER you recover all the cash you put into a property.2 - If you get $10k in CF/year, but have to spend $100k to get it, it will take you 10 years to break even...all things being perfect during those 1- years (unlikely).3 - If you get $5k/year, but only have to spend $20k to get it, it will only take you 4 years to break even...and, both properties are appreciating exactly the same.4 - If you want that same $10k/year, you only need to buy 2 properties, at $20k/ea, which still would only take 4 years to break even on both properties....and you have two properties appreciating, getting you twice as much appreciation... and you still have $60k in cash unused.5 - Now, spend all $100k on $20k properties, and you now have 5 properties getting $5k/ea per year (and all 5 break even in 4 years),...for $25k/year in CF...and, 5 properties appreciating instead of just one.

We have the plans, but ultimately we want to produce "the perfect"  1 plan we use over and over-  The MEPS approve and like it, have assisted in value engineering, corrected the mistakes, covers HUD review, is cheap and easy to build.  

We are both humans and we are not perfect but I do the best I can to share the knowledge I have by being an investor, realtor, and developer in the area for 8 years. 

Doron, @Cara Lonsdale answered that perfectly. to manage properties other than your own, she would need her brokers license.