Details:*Willing to spend ~$180k; Prepared to put 20% down on a Grand Rapids rental property*Not seeking a fixer*Will need to hire a property management company Goals: The obvious: passive incomeDuplex, triplex or single family w guest unitPurchase a home with tenants already occupying and generating rental income Top-of-mind concerns:*Winters in MI wear and tear on roof, pipes*Cost of property management, costs to heatTenant selection, How-to from Los Angeles to MI*Offer / escrow process How-to from Los Angeles to MI

Im really not concerned about this house but if we do more flipping in the future is this an actual concern?

My only concern there is that I do not see many listings for MF in that area and the ones I do see are very expensive.  

I walked the outside of the outdated property and snapped some pics, rolled some numbers in my head around:Mid-range ARV around 400knew doors and windows throughout, 15k including entries for good stuff (I know that's high, better to err on the side of caution)fresh paint in/out at $5 per sf for good stuff, call it 9kflooring throughout, 6.2k at $3.50 a sf2 bathrooms, 15k kitchen 20k including appliancesso about 55-60, plus some extra for unforseen and pool, so 65-70k, leaving me an offer of 200-230ishI'm sitting in this driveway for a solid 45 minutes taking notes, running numbers, pulling title info & last sale price/date (Chicago Title mobile app), etc.  

I want to buy an investment property in Claremore OK that is a mobile home on an acre of land, cost $8,000 (I will cover the closing cost) with a monthly rent of $800.My pitch to my investor was that I would borrow $8,000 from them like a CD for two years.They lend me the $8,000, in return I give them a 10% a year return on their money for two years. 

Therefore, if I'm looking to acquire a mutli-family property using residential loan terms and interest rates, my only option would be a duplex - and I am concerned that the cashflow on a duplex would not suffice to cover expenses and mortgage payments, especially given that I will be occupying one of the units to obtain the loan and 'house hack'.

When you structure a lease and option transaction with a potential buyer, you become a landlord as far as the "lease" side of the deal is concerned. 

Regarding what kind of cash-flow or ratios you need to retire and your concerns with future CapX, you should also plan ahead to have a reserve in the bank to handle the unexpected stuff.

I understand that if you buy and sell more than one mobile home a year you need a dealer's license. 

I am eperienced with commercial, single family, puds, mobile homes, multi-units, lots.