I was first looking into buying and selling manufactured homes because it seemed like it had a smaller risk factor compared to buying other types of rental properties.

But ya what Rick said, look into zoning, look into utility hook up, factor in the fact that 2x4s are worth more than gold right now and you'll be on your way!

A couple questions and thoughts that have came across my mind are below.Contributing factors: (My goal as most newer investors is to reach financial freedom)-Area: Western Suburbs of Chicago.  

Had you wanted mold testing they very well may have had a higher contract price, so they had room to lower the price after you did testing.Use integrity.

I've worked for local lenders and big lenders and a lot of it comes down to a convenience factor- if you work with a lender that is licensed in multiple states you save yourself the headache of sending your tax returns and re-explaining your business goals and plans a hundred times over.

If you factor in improvements that mitigate the downsides of a property near highways and freeways into your rehab equation there could be a win.

Factoring in SID/LID, hoa, property manager fee, and I'm assuming other expenses.I just found some rental return calculators online, but I wanted to ask those that are more experienced for their feedback, thanks! 

@Maria Taylor It depends on a lot of factors, but it may be an issue of targeting. $20 is not much but it should be enough if your targeting is precise enough.

With this scenario I think one of the biggest decision factors is, are you eligible for a sec 121 exclusion? 

What have your experiences been on this topic, and what factors do you take into account when making this decision?