His niche is very different from what I am familiar with, so I'm having some trouble running the numbers and I thought I'd turn to you guys.So he(my relative) has been doing this exact strategy for a few years and has done a good number of deals(~40) so I'm confident he knows what he's doing, but his strategy is as follows:Buys a distressed trailer(mobile/manufactured home) repairs it, and then sells it to a tenant that either can't qualify for a normal loan, or doesn't have the money to purchase a normal home.So for this particular deal, the numbers are as follows.Purchase price of $5750.Rehab of $8000.Rehab should take roughly 3-5 days.Selling we are assuming a month, but he says typically less.Taxes are around 600/yr(which the new owner will pay) but accounting for the month we have it, $50.The lot rent for the trailer is $350.Closing costs would be maybe ~$100.We'd sell it for ~22k, with a down payment of 2k at 14% interest for 75 months.So our purchase and rehab would be ~$13850, plus a month of holding for $14250.We'd get 2k back bringing our investment back down to $12250.We'd bring in 400/mo from the mortgage payment.As far as I can tell, this would be about 35-40% cash on cash return.Please go over these numbers and tell me if I'm missing anything.

We want to go for another real-estate investment (we are doing buy and hold..buy low, renovate and make them short term rentals on airbnb in Ocean City, Maryland).

Who knows how many people's self directed IRA's we are protecting!

We are finishing a couple flips in the next 60 days. 

I also strongly feel that we are at or near(maybe even just past) the absolute peak of the market and that banking on appreciation is unwise at this point.

A couple asked what are we looking for...We are looking ideally for a 10 cap+, $300+ cash flow, and to have 3+ units (up to 25).

The foundation company is now wanting to charge an additional $3500 to put in 4 more piers, not to mention I will have to spend another $4-$6k to repair and restain the hardwoods, which can't really be done while we are living there. 

We have lived in a house for 715 days within the last 5 years, it was our primary residence that we have rented after the number of days above for 2 years, and we are planning to sell it within a 5 years since we bought the property.

We are looking for MF deals with upside/value add.

Due to the fact we have not filed our 2018 returns this year we are having trouble getting a mortgage.