Buy or inherit and hold all their lives while working the properties for income.I've seen teachers, firemen, software engineers and all sorts of people utilize both strategies successfully.

I am renting a house that has a detached efficiency apartment in the back.  At first, the tenants in the house were using the apartment for their daughter.  She moved out, and they sublet it to someone else.  I did au...

I would advise them to set up the utility hookups to allow mobile homes to park and just rent the spots out.

Agree with @Sean McGrady - if you live in it, you should utilize the FHA loan's 3.5% down payment, no question

Monthly payments for mortgage & HOA: ~$1400Monthly rent received: $700/room so $1400 plus split utilities 

I have a vacation home at Lake Tahoe that I do not utilize often.

I’m pretty sure at $700 per person he is making around $200+ after paying every utility and the Mortgage.

Keep shopping. rent a backhoe and do the digging yourself.......Lol all fun and games until someone who's never ran a backhoe a day in their life ends up punching a hole in the side of their building or hits a underground utility line because they didn't have the property marked out.  

, and How will you fund the deal and what will your holding costs be total (interest on money, total time for project completion, insurance, utilities, taxes, etc.)? 

If you remove debt service and utility expenses, you are showing $447 per month or 12% of total rents.