Let me offer some comic relief here. There is a property for sale in the next
town at $99,000. It consists of a small house and 4 mobile homes. Without doing any fancy analysis, let us do a simple calculation. The house is worth $50k, maybe $60k on a good day. That leaves $40k for 4 old mobile homes worth $2k each, maybe.
And that is the best case. Over a year ago I was driving by, noticed the sign and stopped to talk to the lady who owned the property. I tactfully mentioned that the homes were a bit dated and she replied that they made them better in the 70s. I could not get an exact figure for the rents. They were in the $250-$300 range but one tenant paid less because he
mowed the lawn and another paid less because he was an over the road truck driver who was mostly gone. The prize came when I inquired about the utilities. All of the homes including the house share 1 (one) septic and 1 (one) water line.
You really need a sense of humor to do real estate.