I know I will have to see a tax accountant but wanted to get a quick idea on the process.

You got the Right idea though, take charge and control it.

s idea.

Great idea!

I have read through many post concerning this but wanted to get a better idea/opinion of what we should do. 

My current idea is to acquire a mobile home lot in Arizona (not in a park, just a single residential lot near many other privately owned lots for MH's), seller finance the MH if possible, and rent the lot.. kind of like a single-pad MHP. 

That’s a good idea!

Have you tried any of these ideas....? 

Let the numbers speak not your emotions.Make sure your offer and LOI spell out favorable terms ofro you to have enough time to do your due dilligence in order to pull back or lower the price should a skeleton pop out of the closet ;-)Send me a DM if you'd like to bounce off a few ideas.

i want to end up in multi family homes in the long run, but i have no money down, no money for vacancy,repairs,rehab, etc.. my idea was to start with a single family home(easier) with good equity, live in it. but fix it up a little & house hack to pay my mortgage. then a year or two down the road pull out the equity or even sell and purchase a multi family home that way ill have more money to back me up. how does that sound as a first investment?