As a general rule of thumb avoid anything under $100k, the pro forma numbers will look way better than the actuals, and avoid flood zones.

Quick evaluations are as follows, lot rent x number of occupied lots x 30 or 40% expense ratio(depends on who pays utilities) x 12(to annualized)=net operating income (NOIthen you apply an appropriate cap rate.

Hey guys, I have my first MHP under contract and was wondering what kind of rules should be enforced?

Peter,27 days total (applied online on a Sat, closed on a Friday).  

FHA is not for first time homebuyers, but you cannot hold 2 at once, unless certain circumstances apply.

When we applied for the permit to add the egress windows the county wanted us to strip out the finish on the basement and bring everything to current code, since it was done in the 60s and they didn't have record of a permit.

Do the terms of the lease automatically apply with me, or not because my name isn't on the lease?

@Daniel Harbuz thank you for replying and does the same techniques apply though or is it different?

If you buy in a great location, you can always get roommates or Airbnb (subject to local rules).

There's nothing you can do to improve how the stock market behaves).Cons:Requires effort (stock market, you just buy some mutual funds on the web and then there's nothing else to do)Follow the IRS rules regarding prohibited transactions (when investing in the stock market, you have no opportunity to violate those rules).