Too much of a time drain on my life with the drama and they are low producers compared to what I can close on my own spending time directly with clients.

@Kyle Pare I use USAA for my banking, insurance, and car buying services.

In fact, the manufactured home's existing supports are still necessary for the load displacement, reduction of floor vibration and for leveling adjust-ability.A retrofit is generally required to meet loan or insurance specifications for "permanent" attachment, wind resistance, snow loads or seismic resistance.

So probably the only other option would be a refinance to pay off the short term debt, which would require you to be able to get that private money amortized at a longer time period, with balloon payments, or interest only payments during the life of the loan.

At this particular point in my life, I am not going to be the one who has the money to put up big down payments for properties (students loans), but I am attempting to form a team that would be willing to work together to make our collective dream happen.

We hope to start in Wholesale,  in order to gain capitol for moving into having 'passive' income through rental properties for a better life and retirement. 

This does not include accrued interest,mpreservation, property taxes paid, force placed insurance, etc.

Remember, these "wholesalers" are not licensed, not held to any standard, are usually out for a quick buck, and doubtfully have any E&O insurance.

You were missing Principal and Interest from your mortgage and also Management expenses.Based off of that I put your numbers into it.Rental Income             $2375ExpensesManagement               $190 (8%)Insurance                     $125Capital Expenditures   $71.25 (3%)Taxes                           $325Repairs                        $237.50 (10%)Interest                         $412.50 ($110k @ 4.5%/30 yr)Principal                       $144.85 ($110k @ 4.5%/30 yr)Vacancy                       $118.75 (5%)Electricity                     $250Water ad Serwer          $50Total                             $1924.85Cashflow                      $450.15Looks like pretty good cash flow from that.

Right after you close on an improved property get an insurance policy that will protect you if there is a loss on that property.Do not cut any corners to make something look better.