The property will likely require substantial work to make it a rental.

In my market, we make tenants establish their own accounts.

Oak Cliff is also an area experiencing a lot of development and growth, but there are many well established neighborhoods in Oak Cliff with a lot of value already such as Kessler Park, Winnetka Heights, Wynnewood North, etc.

Are they developing and leasing it up and then selling it off after some performance has been established?

There are several factors to consider when deciding whether to replace the old mobile home with a newer one or renovate the existing one.If you choose to replace the old home with a newer one, some "gotchas" to be aware of include the cost of purchasing a new used mobile home, transportation and installation costs, permits required for the new home, as well as potential landscaping and foundation work needed to accommodate the new home.

These loan times will also require you to sign a document that states you are going to occupy them within 60 days of closing.

I have a cousin in Florida that is moving and would love to come to an agreed price on their place but just take over the mortgage instead of securing my own loan as I am looking for it as an investment and would be required to do 20% down (which I would not have). 

Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).3) Adding an ADU is a slow process.

from everyone in your current network and make sure that total amount if 150% or more than the money required to close.There are a lot of other factors to consider but the above it a good start.

@Nathan Gesner depends on the SOW required for RentReady.Your timeline works for Class A properties and maybe 70% of Class B properties.We do many $5k+ turns of Class C properties that aren't getting done in a week - usually takes longer than that for owner to approve the SOW and then send the funds!