If the renovation includes including roof, bathroom, flooring, windows, appliances, etc, is this sufficient to qualify for a Substantial Remodel and remove the tenants?

Prices are being driven up by the same forces that have been in play for the past several decades... low lending costs and extremely low inventory.Also, not sure if anyone has noticed this or if this is happening elsewhere, but recently there has been a substantial uptick in inventory.

Purchase price: $55,000 Cash invested: $75,000 Small mobile home park. 1 unit gut rehab, 1 unit substantial interior rehab, lot and land improvements.

Over time the profit will come from owning solid cash flowing properties with leverage in growing markets and for me, especially with consideration of this unexpected appreciation of late, I have made substantially more utilizing turnkey than I otherwise would have.

So if I understand correctly, you own a house with substantial equity in it.      

Duplex is around 100 years oldProblems:-Substantial foundation bowing was observed, more than 1 inch in the basement, no cracks yet.

I've only, on occaision, scanned some online listings in Northern NJ but I havent done any substantial research.

If i went this route I'd have two or three roommates pay me rent to cover payments but in this scenario the house couldn't be in too bad of shape as I'd I have to convince my friends to live in the house. obviously a house that doesn't need substantial work will cost much more than one that does so financing becomes the next issue.2) find an investor and flip and/or wholesale.

Legally in the state of missouri - city own utilities can bill the owner for renters upaid bills.In Kansas City Missouri, if your renter does not pay their bill, they receive a bill next month that says pay or they will shut off the water - they will receive this type of bill and notice for years and years and years until the bill if of a substantial amount.They then hire an attorney, file suit and then levy a judgment against the property and the owner, because you should have known your renter was not paying their bill.If you own a property in KCMO you should include the water utility in the bill and have it in your own name OR have a revert to owner set up with KCMO water, so if the renter does not pay, the bill reverts to you. 

For example, due to the increased difficulty of attracting and keeping qualified maintenance staff, we are having to bump up our hourly pay substantially.