Becoming a landlord

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mobile home

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Should get some real good clientele.

lots of college folk lived in mobile homes

my friends wife lived in one

plan ahead, be prepared

Know thy self.

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Is doing something like this a big pain in the arse?

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It really depends on it your tenants are a big pain in the arse.

Choose them wisely.

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Becoming a landlord

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Watch out of the Washitah.

With some property management companies, you can pay them just to do the advertising of the rental and screening of candidates (background and credit checks) and insure that you're meeting Fair Housing and Community Reinvestment Act regulations. They may also assist you in writing a lease agreement. This fee is usually half of the monthly rental amount but you can probably work out a fee if you don't use them to manage the property ongoing.

If you're local you can handle repairs and calling for repair services yourself, saving yourself the 10% management fee each month.

But I've done the DIY version of advertising and screening, and it's generally worth the $300-500 you spent to CYA.

ETA: again, depends on if you're local as to whether it's worth it to have them advertise and screen. I wasn't local when I rented a house out, so I needed someone to show house, set up tenant, etc.

Love me some Ashley furniture. Top flight

I rent a house and have never advertised so I never have to worry about discriminating. I simply use word of mouth and have kept it rented for 8 years now and never missed a months rent. Some tenants can be picky but for the most part it's easy money. My finance professors always told me let my money work for me, don't work for my money.

The structure and plumbing being in great shape will help big time.

Appliances are always a crap shoot regardless