Thanks to good timing (which I didn't really realize) the market was very good to me allowing me to pyramid up to much better income.

I've read some about buying the properties within both types using mortgages and how the income is treated differently due to some profits coming from your money and some coming from the banks. 

Keep in mind that most banks will require you to have 2 years of rental income before they'll allow you to count that income when calculating your debt-income ratio.

As more and more of that happens, run down areas can be revitalized providing a safe place for those with less income to live.Good luck and learn as much as you can.  

I am looking at a mobile home park in CT with the following details:- 18 spaces fully rented for $455 / month (received as an HOA - owner does not own the mobile homes but rents the spaces and includes utilities as part of the $455 fee)- Separate unit on the property:- 3 offices rent for $400 each / month (currently rented)- 1 apt bedroom for $800 / month (currently rented)- A storgage shed that gets $1400 a yearTotal Annual Income = $122,400Total Annual Expenses = $92,701They are asking $1.2M for this property, and I am new to this type of investment.

I also think the price have a lot of room to appreciate due to the relative affordability of housing relative to household income in Charlotte.  

Another way to phrase it might be to say 'I am WILLING TO take (dont say purchasing just yet) this problem off of your hands and turn it into monthly income  for YOU without all the landlord hassles. 

I'm also only considering my own income as a means to save to make the first purchase.

Just a guy interested in learning how to buy property to turn it into income property.

Hey everyone, I'm new to the forum and wanted to take a moment to introduce myself.I run a small analytics consulting business in Boston, and develop data science courses for several online education platforms.I'm interested in real estate investing as a means of diversifying my portfolio and providing additional streams of passive income.