In regards to your current deal, I would be hesitant because even though you will be able to afford the mortgage payment and it looks like you have a renter already in place, there is still a lot more that would need to be figured in.1) Taxes ( Not sure in your area, but you could find out very easily or this may already be included in your payment)2) Cap Expenditure (Figure at least $100/mo)3) Repairs (Figure at least $100/mo)4) Property management (8-10% of current rental rate roughly $150) - I know you may manage it yourself but if you ever decide not to, you want to take that into consideration so you can plan for that.5) Vacancy Rate (5-10% of current rental rate $75-$150) - even though you have a renter you have to plan for the worst case scenario if something happened to him and you were unable to find someone to rent to.So if you add the above that is an additional $425-$500 not including your monthly taxes.  

I forgot to include the unit numbers.  

I have lived all over this great country, including Nor Carolina, and always come home to Texas.

Also If you are selling we are interested in hearing what you have.Criteria:SFH$80k-$130kEst Rent Rates Near $1,100+ p/m1100+ sqft2+ Bedrooms2+ BathGarage - Attached Preference but not mandatoryNewport News,VA - Hampton, VA proximityMilitary Base Proximity - Fort Eustis PrefRenovatedTurn KeyAppliances included.

What about a pet fee?

Other options include, assumption of the current owner's loan or owner financing.2) You definitely need to start up a corporate structure.  

What about a pet fee?

Include the plans for the trailer's demise so the underwriters and appraisers understand it's going away.  

I am biding my time a bit, last year when we finally got the town to phase out rent control on vacancy we were also able to get them to include a floor increase of 1.5% if CPI is less.

My property manager has no problem with this and gives me a call to provide some background on those top contenders (i.e. types of pets if any, special circumstances, potential red flags, etc.).