This is a renovation loan where the property doesn't even need to be habitable at the time of purchase.

Totally rehabbed and renovated, the inspection report is clean.

You want to work with an investment team that already has the skills and a proven track record of finding, qualifying, renovating, and managing properties.

You also cannot do a Cashout Refinance in Texas through FHA, which would allow a singlewide.You may be able to accomplish the majority of what you're looking to do through a Construction loan (pay off land loan, fence, generator, well house, potentially even some renovations to the mobile homes if listed as Accessory Dwelling Units), but you mentioned not being ready to make the move on new construction on the property yet.It may also work as an FHA 203k Renovation loan, but these can be extremely cumbersome and expensive to close.

We have a lot of clients who are still evicting tenants, although on the basis of substantial renovation. 

It took some time to find the replacement property but after we have completed renovations, our cash flow will have doubled, equity has grown and it will be easier to manage.Best of luck,John

Is the property in need of heavy renovation?

@Jason MalabuteAssuming you don’t increase rents on “unrenovated” units to push turnover, renovating units based on natural turnover and small rent bumps typically won’t increase vacancy above market norm.

We live in downtown Orlando, in a historic neighborhood, and have personally rehabbed/renovated several historic homes with wood siding ourselves.

I guess it depends on how extensive your renovation is but if its mostly cosmetic for 1-4 units it should be done in 3 months.