You will need 20%-25% down plus you will also need to factor in closing costs as well as 6-12 months of reserves.

@Chris Mason can highlight the factors that go into these delayed appraisal reports.

After that it is a custom selection based on various factors, some of which include: vacant/Occupied, due date/last paid, legal status, BK status, property value, etc.  

With a HELOC you will be paying interest on it so make sure you are factoring that into your numbers when looking at your next property.  

On the other hand, the economic factors like interest rates, affordability, and supply could make the sf home only increase in value in the short term. 

I was first looking into buying and selling manufactured homes because it seemed like it had a smaller risk factor compared to buying other types of rental properties.

But ya what Rick said, look into zoning, look into utility hook up, factor in the fact that 2x4s are worth more than gold right now and you'll be on your way!

A couple questions and thoughts that have came across my mind are below.Contributing factors: (My goal as most newer investors is to reach financial freedom)-Area: Western Suburbs of Chicago.  

Of course, there can be other factors. e.g. 

I am curious because of the recent situations surrounding the area and how they have affected the inner metro and surrounding area lifestyle.