We remodeled the property as I could AFFORD it adding value. 

  $200 per month free cash flow is not too bad, if you are reserving for the roof that needs replaced in 10 years, the water heater that could go in the next 5, kitchen remodels that need done every 15-20 years to keep rents up, etc. 

Over time we have been able to update and remodel each unit as they turned over and have been able to increase the rentals rates accordingly.sounds like you have 6 months till the existing leases expire, so you may have to work around the current residents for a while.Hope this helps....

Despite being so old the house itself is in great condition as my grandmother took pride in everything she did. we just did some CapEx on the house (vapor barrier and roof work). need new flooring, bathrooms and kitchen remodel, paint and landscaping at the minimum.

We then bought a 3 unit commercial building, remodeled it and added an additional 2 units to it.

Made an offer in hopes us demolishing it, 0ffer was accepted, but when inside and it was sound and remodel-able.

Each room rents for $600, but I plan to increase as tenants turnover based on the higher demand I have experienced after the renovations.House Stats: - 5 Bedroom 2.5 Bath house - 2,200 square feet (1,100 on main floor and 1,100 on basement) - 8,300 square foot lot size - 1 car garageRenovations include - Added two bedrooms - Remodeled 2 bathrooms - New appliances, - HVAC with central air - 10' X 20' pergola over concrete patio - Fire pit area with stamped concrete patio - Landscaping - Sump pump - Radon mitigation system What made you interested in investing in this type of deal?

I will be remodeling while living here to earn some "sweat equity" as I continue to save for the next investment!

A word of caution, we are always careful when a remodel is higher than the acquisition price.

Are there any tips or good contractors/handymen that remodel manufactured homes?