But, the vast majority of folks out there are responsible, competent, law abiding Americans.

I think it's a bad mix with residential units.Aside from that, have you checked with the local building departments yet?

But according to Scorp IRS rules distributions need to be split up according to capital contribution (shares) in the business (75%/25%).In your example if the majority partner wanted to keep his 50/50 ordinary income to distribution split, the minority partner would be forced to take 41.67K salary 8.33K distribution.

I'm going to do a va loan on my 2nd purchase... where I really need to make it count since that will be the one that ultimately brings in the major cash flow and I'll want the best rates etc.Thanks again for the input though.

I have two questions:1) Is there a place where section 8 rental voucher amounts for all major MSAs throughout the country are already aggregated, or would I have to search for this information on all of the individual MSA housing authority websites.2) Is there a place that has aggregated data on median prices for homes with different bed/bath counts for all major MSAs throughout the country?

I'd also phone the California Department of Real Estate to see if the agent's tactics fall within the real estate statutes and ethics of the profession.My experience has been that larger tracts, obtained by "packaging," invariably have a "hold out" that thinks their tract is necessary for a developer to move forward.

Also, I guess I would need to speak to the zoning department, if I were to rent it out as a separate apartment?

I know I'm getting jumped on by some, so let me add, there are some very good folks in mobile homes, they have the money to drive new cars, take care of the place and are neat as a pin, but that's not the majority view.A million dollar mobile home spot is not from the value of the home but the location.

Overall the building is in great shape, with the only major maintenance issue that I can see is that the roof looks at least half way through its life.It's listed for $49,500 but has been on the market over a year likely due to comps.

When I went to resale a year or two or three down the road, it's likely I'd need to do another major rehab, which is likely to cost more than the cash flow I've achieved in that time.