It is widely misused and perpetuated on BP when it comes to residential properties (even by experienced professionals as Corby pointed out).

@Susy Santos Hello Suzy, I am looking to do the same thing and convert a basically wide open commercial building to a 4 unit residential building!

Her family does not want to deal with it.I live in country side of Rock Hill so always looking for single wides on large chunks.of land as well. 

I am thinking of putting a 3br. 2ba. double wide mobile home under contract but really have no clue on how to find comps.

This mentality is not shared to the same extent by citizens of other countries.

In terms of rent, comparable houses (3 bed 2 1/2 bath) in the area are renting in a wide range, anywhere from $2,500 - $4,200 (last I checked).

Were looking to refi for funds to move closer to elderly parents and rent both houses and don't wanna do upgrades if wont matter since we live in a 1997 double wide mobile home with 1/2 acre and another 1974 mobile in rough shape but habitable (grandkids live in) and its the only mobiles on the street and in the area.

In their presentation they say they have a system that has a 80-90% accuracy of making money with them selecting a wide range of what they call a "cash flow zone" based on the movement of the big indexes such as the S&P 500, NASDAQ, Russell 2000 etc.

I would be the carpet had a 5 yr life because its manufactured (double wide?)

We manage a wide variety of properties and deal with all tenant profiles.