The reason MHP investments are more favorable is because a large % of the value of the property is allocated to "land improvements" rather than a building. 

The tax records have both single family homes as improvements on the land. 

@Sarah Blesse, You cannot exchange into improvements on land you already own without doing a very untested and risky process called a Lease hold exchange. 

Joint Venture with Cash How did you add value to the deal?

Joint Venture with Cash How did you add value to the deal?

Once the reno is started, you need to switch to a Renovation Builders Risk policy to insure the building and the improvements you are putting in. 

If your not in a position to buy a single family, renovate it, live in it for a year or more then buy another on (house hack), A good option may be buy a single family that needs a little work/cosmetic improvements, rent it, and refinance it BRRR method.The first option allows you to get a better interest rate.

This is still a better deal than having to pay 20% of $400,000 by using a conventional loan.Now, let's say instead you get stationed at Joint Base Lewis-McChord by Tacoma, WA which happens to be in Pierce County (this is where I was stationed).  

I've done a lot of cosmetic improvements to the property in the last year, so I think the increase is more than justified! 

So we found a repossessed triplex for 380k with about 70 in upgrades to improve the property (450k total).Our current property is appraised at $730k with a balance of 248k and can pull out about 300-320k out with a refi.