It is slowly rotting and needs significant repairs to get it prepared to sell to a typical home buyer for a primary residence.

The equity gap can definitely be a challenge but there are still deals out there - typically with homes that were purchased in early 2022. 

What I've seen is that when asked to provide an assurance that a loan wouldn't be called because of a due on sale clause being triggered, the lender customer service typically just outright says it's not allowed, or default to a "no", because they see it as a black and white question, and miss why the due on sale clause is actually written into the mortgage document to begin with.If one is transferring property title from personal name, a Grant/Warranty Deed would be drafted/recorded to transfer title.

Or does anyone have a rule of thumb on how much profit they typically expect to make monthly on a property?

This seasonal slowdown is typically predictable and manageable.But at the end of 2024, we saw that increase jump to over 10 days, pushing average DOM from 25-30 to over 40.

Typically, the mobile home funds can achieve very attractive COC, a somewhat recession resistant business model, decent upside as well.  

The first year is typically good for most properties, although I've had some rough starts.

@Amanda Bradley Tenant sounds like typical Class C with a credit score under 620.How hard was it to find this tenant?

That's a typical scenario and could cost you $10,000 - $15,000 so that would be a good starting point for your reserve.But there's more!

I’ve been scanning the market and come to understand as my first investment I’ll probably have to find an apartment/condo something like that and I typically hear of STRs typically making more cash flow etc.