I know you'd be househacking which would minimize or eliminate how much you'd spend on a mortgage but it is still important to know how much of a mortgage payment you can afford incase for whatever reason the other unit is vacant for more than a few weeks.

While my folks have done very well for themselves using as little risk as possible, I know that we can do much better with the appropriate amount of leverage as well as out of state opportunities.I spend about 2-3 hours a day educating myself/reading/listening to RE podcasts, and try to analyze about 2-3 properties each day.

However at this price point and rent point, you probably wont spend that much of the rent on expenses.

@Amy ColeYou are better off spending 50-60k and get a new mobile home replaced.

Having a house currently valued at $100,000 with an ARV of $180,000 sounds great.How much time and money do you need to spend to get it to the ARV price?

It just may not be feasible or wise to spend the time to create a database, maintain contact with owners, lenders and prospective buyers when there are few transactions).Conversely, available product is scarce in major markets, and as a result, a MHRV broker in a nearby state likely knows many eager qualified buyers.In large markets, I think posting a listing on Loopnet or other listing sites can be the kiss of death for a good quality/easily financeable property – before you know it, tenants and employees are alerted, and you have a bunch of worried employees and tenants on your hands.

Also, just a side note, while you may spend an additional $400 per month to float the property, this will likely be offset by depreciation and fees.

It will all come down to how much you want to spend on a house/how nice of a house you want and where you want to live. 

Anthony.If you don't have any free time then wholesaling is not the path for you.If you have some cash sitting around that you want to put to work without spending too much of your time then I would recommend buying rental properties out of state. 

Mainly, I want to be able to provide a comfortable life for my family while still being able to spend quality time with them.I have decided to throw everything I have into the Real Estate industry.