Used mobile home. Installed on property for $17,000 (includes all permits, septic, well, etc.). Personal loan at 10% over 6 years so no mortgage insurance is required. I will not be taking out a homeowners insurance policy on a used mobile home. PITI (or PIT in this case) = 340.12.
Rental income of $600/month at 90% occupancy = 540/month.
Profit of 177.88/month.
What do you think?