My rental got hit this past week.

I focus primarily on multi units in a city of 30,000, so my data is very limited.Until late last year and beginning of this year, I would see 1-2 new REOs hit the MLS per week, but in last 4-6 months I have only seen 4-5 new REOs come on MLS.

Make sure you have a clause in the contract or add it to a addendum that if the value does not hit a certain amount you have option to renew the same terms for a additional amount of time.Marv Rousselow

Also if you see they have a 530 credit score they don’t care if you evict them or hit them with a judgment.

No they will not.Just buy, market to non-fha & go FHA if/when hit the time.

Lenders have more to worry about in Las Vegas than "due-on-sale clause violations".As long as this loan remains "current & performing";...you have a better chance of "hitting the jackpot" at Caesars Palace, than having the lender accelerate an otherwise performing loan in good standing for a violation in the "due-on-sale clause".Spending a few hundred dollars with a good attorney that specializes in these types of land contracts should be worth the money. (...try finding these types of lawyers who are affiliated with your local Las Vegas Real Estate Investment Club).A lawyer of this type can create a new, or review and update your trust/sales-agreement, land contract, etc.Here's a different twist:How about a back-up agreement and a back-up deed?

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I would tell your home inspector to pay close attention to the plumbing and electrical to make sure they are not pulling off some of the other units.

I realize that these do not truly tiny homes  but its hard to get permitting for much smaller. the  issue of cost is that plumbing and electrical infrastructure co the same regardless of the size home so that the  difference between >400 sqft. and  800sqft. is not that much proportionally.

If you do hit the mark at only $4k a month in expenses, you'd be closer to 12% cash on cash.