Hello everyone,I am a buy and hold investor based in Jersey City, NJ. 

There is a housing shortage in the city and rents for this are going for $900.Manufactured Home 2bd / 1 bath Current: $17k cashARV: $25,000Rehab: $3,160 Space rent: $515Rent: $900Tenant pays water, electricity, internet, etcIt feels like a good buy and hold strategy because rental are in such high demand in the area. 

As to whether it is a decent deal, unless this thing is in a major growing city you can probably find better if you aren't including a management expense.

@Marcus Brown  The four towns you've mentioned are where some of the lowest proces in eastern Mass are found. 

It may also be possible the other development that happened in Kenosha County is finally reaching Racine.I own rental properties in Janesville (probably 2 hours west of Racine) the city is doing a massive reassessment this year.

Also I am not considering any baltimore city properties at this time even though they have plenty of multis.

It’s also in a city I know very little about (Norfolk, VA) here are the numbers- I welcome your thoughts/ insights:$259k - sales Price (4- unit building fully occupied)$1460- total mortgage payment (after 25%) down $305- Property Management Feee (10%)$105- trash (total water is $315 p/m but seller bills water to tenants and has it written in the lease)$60 - lawn careTotal rents are $3050Owner says monthly expenses are low.The best case scenario is net income of $737 assuming $400 extra monthly expenses (for worse case scenario unexpected expenses which always come up) and assuming all the tenants pay their rent.Positives- - Seems to be a good cash flow if expenses are kept low and everybody pays- 4-plex is located in an 85% residential area- building is ok condition (built in late 70’s) except roof is 18 yrs old- all tenants are gainfully employedConcerns- while the neighborhood visually looked fine, according to crimemapping.com its a moderately high crime area.

@Marelyn ValdesYou (and others) need to understand your city/state and how past-due liability works.

What does everyone make of this new Baltimore City Rental licensing requirement? 

Depending on where your unit is, they may be charging just for the hassle of doing one unit in the city.