Making money doesn't mean necessarily mean cash flow, but there should be a clear path to strong appreciation if there is no cash flow.  

Both areas can be profitable if you buy in the right location and have a strong manager. 

. +91% occupancy rates on rentals and a strong job market makes for great place to invest in rentals.

Investment Info:

Mobile home other investment in Dothan.

Purchase price: $75,000

Cash invested: $130,000

We took a cash out refinance/HELOC on our primary residence and purchased land that had 3 mobi...

You can't have it both ways, and if you bring attention to the situation you'll probably just cause yourself problems.If I were you, and I intended to keep the 2 illegal units, I would probably provide the 7 leases early on in the refi process to establish "7 rental units" in the mortgage person's mind, and then just hope & pray that you don't get asked for a zoning certificate as part of the process.One other thing I'd say is that, again I don't recommend illegal units, but if you insist on keeping them (as many people do), I strongly recommend you comply with the fire code applicable to the number of rented units in the building.You mentioned two buildings, with a total of 7 units, and you said the building department had them as 3 & 2, which makes me think you have them rented as 4 & 3.If that's the case I would strongly recommend, if I were in your position, absolutely making sure that those buildings conform with the fire code for a 4-unit and 3-unit, respectively.

The COC returns are still very strong, IA is a landlord friendly state and the Quad Cities aren't oversaturated with investors.

@Dillon Brooks I strongly recommend the Dallas/Ft.

I do not know your specific market, but Id strongly suggest you speak with a local property manager that can help you asses what market rents should be with your properties, both in current condition, and also with renovation plans put in place.

Me and a partner of miner are wanting to strongly lean towards rentals, househacking, flip homes etc!

@Jai Reddy They absolutely are and it is also strongly solidified within the Swiss culture (also an entire subcategory of hunting for lesser known but high-quality brands).