I own a condo, my monthly payment for mortgage + condo fees + taxes = $1,400 per month
The rent around here for this condo is about $2,000 per month, so I can net $600 per month cash profit while someone else is paying my cost of home ownership by renting it out.
My thought is to move into a RV trailer home and rent out the condo. I would have to pay about $400-$600 per month for the month-to-month site rent at a RV park.
My rental income would cover the cost of the RV park site rental, so basically I would have no cash out of pocket and someone else is paying my $1,400 home ownership costs and paying for my RV site rental. But I would have to shell out $15K-$20K up-front to buy the trailer.
One way to look at this -- how many months of living in my condo equals the $20K cost of the trailer? Answer: $20,000 / $1,400 = 14.3 months. So in 14.3 months I would break-even on buying the trailer, and every month after that I'm saving $1,400 per month extra versus what I'm currently doing.
Does this make any sense to do??
EDIT: The RV trailer doesn't have $0 re-sale value, so even if it was worth 30% ($6,000) of what I paid for it, that shortens my break-even point to 10 months.