My long term real estate goal is to purchase rental properties that cash flow and create passive income that I can use to roll back into my investments and increase my portfolio. 

I try to define the neighborhood boundaries, then look at number of beds/baths, then condition/amenities.

It seems to me like an easy 3% ish percent equity gain or a way to reduce the loan a little and increase cash flow a bit for almost nothing, that's my thought any way.  

My wife and I are in the energy industry and love our jobs but recent market conditions have us wanting to hedge our income resources.To be honest, I don't have any aggressive or lofty goals at this time.  

Once you find the owner of the vacant house then you need to set a time to visit the property to see the condition.

I joined this community to learn about real estate but more specifically how I can use real estate to passively increase my net worth.

Your's will have to be re calculated and increased accordingly to positively impact your ROI and cap rate.This is where most MHP investors fall far short of the mark.

I would go for the 3rd unit because you're going to be increasing your income and cashflow plus long term you'll have increased the value of the property by X amount of dollars which you could then apply to another property or toward those loans.

This significantly increases the asking price because it brings the gross rent to around 145K year(Triple Net).

Think of it this way...Just buying a rental property = 400.00 cash flow + 400 equity each month = 800.00 a month increase in worth.