It will be renovated beautifully and be a 4/2 with a one-car garage once completed and has a much newer hvac system and utilities bills will be much less expensive.

It's a triplex in the City of Decatur, and it is a BEAUTY of a deal!

Danielle, that's a beautifully written letter. 

If done correctly, it's a thing of beauty, very little work, decent return, very little risk. 

The house is a new construction 4 bedroom 3.5 bath, two stall garage, big lot, concrete fence w/ electric gate and beautiful uncontested oceanview. 

(if you are in the right market).2) The ability to buy cheap from moms and pops with huge room for upside in rent increases and occupancy increases.3) The ability to obtain seller financing (which is what got me into the business to begin with).4) The huge underlying value in being in an industry that has not allowed new construction since the 1970s.5) The low management intensity when you are just renting land.6) The only remaining sector of real estate in the U.S. where you can hit 20%+ cash-on-cash returns if you are smart.7) The win/win business model of bringing old mobile home parks back to life.8) The beauty of being in a business sector that is on the right side of every American megatrend.But there are also the following drawbacks:1) Suffering through a huge negative stigma that makes you embarrassed to even tell people what you do sometimes.2) Suffering through some city halls that hate mobile home parks and everyone associated with them.3) Suffering through media that assumes that anyone who owns a mobile home park is therefore evil no matter what you do.4) High levels of risk (and almost certain failure) if you do not conduct good due diligence.5) The endless risk of private utilities unless properly vetted.6) Learning to adapt to the customer base and being a good landlord that gets the job done in a friendly way.7) Not getting involved in the hysteria of some markets that offer little in the areas of returns or safety.I cannot emphasize enough that this is not a get rich quick scheme, but a get rich slow scheme.

I'm a husband, father of 2 beautiful girls (21 yrs. 

I just went to see what a nice 3 family looked like, then got blown away by few things:-It's beautiful -First unit is probably 4-5 bedrooms and two FULL floors(has large finished basement)-I thought the garage was another house!

The beauty of the property and to retire there down the line after rents have paid off mortgage.

Purchase price: $90,000 Cash invested: $90,000 Sale price: $349,900 Beautiful Queen Anne circa 1899 purchased in Knoxville.