As doomsday scenarios go, this isn’t terrible.Now switch to my mobile home park and consider the same factors.Rent - low rent payers ($200 per lot for 15 lots),Credit – my residents probably have mediocre credit at best,Building – I own nothing here, as the residents own their mobile homes.Site Improvements – I own nothing here, as there really are no site improvements to speak of,Zoning – zoned for the parkReal Estate - an otherwise poorly located piece of ground jammed up against an airport.The seller/owner created the park 15 years ago and claims to have never had a vacancy, so if my doomsday scenario hits and all the trailers are wiped out by a tornado, I’m left with a poorly positioned piece of ground which I suppose I would eventually repopulate with mobile homes.So why consider this at all?

Hi Ashley, Try asking your lenders to calculate the absolute highest amount you're qualified to borrow (assuming you're using a HELOC or LOC and not having to calculate for each individual property).

There are travel nurses and student types that would be looking for a bedroom, and renting those out individually might do well.

For me the the CFA track made the most sense because equity/commodity markets interest me, but find your own, create a plan, and don't pick your head up until you find yourself where you saw yourself in the beginning.

@Paul BowersSyndication is where you create a pool from different investors and use the funds for real estate projects, from development to rehabs, etc.

In your mind you have created an extra layer of litigation protection but to accomplish this you have hovered around mortgage fraud & added a risk of the loan being called.

What I wrote above does not create an attorney/client relationship between us.

To make a strong offer, you need little to no contingencies, quick closings (typically), large EMD, POF, and an ability to create a spread for profit.

Should I create a new lease with my terms while keeping the lease terms or should I just redo the leases when they are up for renewal? 

so probably very narrow niche; for certain and not something most folks that are geared towards rentals would ever look to do or understand. now creating another building parcel that's quite common on MLS my wife sent me one a few hours ago right on MLS.