Cary allows "utility dwelling units" (a second unit within the same structure) town-wide.

I've noticed that the two sources I'm using vary widely.

Fourth:  I can always refi the first property to some extent in the future if needed to buy additional properties as I go along.For these properties I would have to put anywhere from $25 - $35K down per property.The alternative would be to buy several properties within a couple years using all financing and the down payments would come from the $180K pot.Let me qualify by saying I have $35K currently in a syndicated deal paying 20% interest.  

Or are you saying to shoot a wide net out of all the properties that might be in my price range and you never know who might need to sell?

One of my first homes in this area, was a double wide modular on a raised ranch foundtation. 

I'd say offer $75k all cash AS-IS with no contingencies (if you already know the extent of the rehab, this should be easy).

Purchase price: $125,000 Cash invested: $29,000 Abandoned REO foreclosure single wide on a mostly steep 3 acre lot in a great location.

OUCH.Any wood frame house is going to have some WDO damage, the questions is, to what extent. 

The unit was old, but also overworked as my tenant continues to leave their windows wide open in the middle of a Wisconsin winter.

But that’s the extent of the issues we can fix.