This shocked me when I learned about it.

Of course, that was when the internet was a toddler. Maybe you already know this stuff. Maybe you don’t.

Let’s get to it.

What is considered “Residential Real Estate”?

You can pay Cash, or Finance the purchase of the following property types and it’s still considered “Residential”.

  • A Manufactured Home (no wheels).
  • Condominium Unit
  • Townhome
  • Single Family Home (aka House)*
  • Small Multis** up to four units (Duplex, Triplex, or Quad/FourPlex)

Mobile Homes are still residential, but they aren’t generally considered “attached” to the land.

Financing options are usually Personal Loans.

They are Titled as a Motor Vehicle, so they really are their own category of special.

This is a no-go, unless you are paying cash.
Engineer wearing a white hard hat and gloves supervises the loading of a prefabricated modular house onto a truck, ensuring safe and efficient transportation

Manufactured Homes are residential, but they ARE considered “attached” to the land.

This includes “Tiny Homes” and Container Homes too.

* Single Family Homes can include land up to 10 acres!

That’s right a small farm is totally cool, as long as it has a house on it.

Autumn landscape with old house in Vermont, USA.

** Small Multis are a fantastic opportunity to get into real estate investing.

Yes, they are more expensive, but before you disqualify yourself because of your budget, check this out:

As long as you live in one unit, the income from the other units goes to qualify your income for purchasing the property!

And for my best example, using a VA Loan, you can put $0 Down and have four doors to start your real estate empire.

VA Loans also have a special option – if 2 Veterans purchase a property together, they can buy up to a 6 Unit complex! And there is no prohibition on them living together in one unit, so you can have income from 5 other units.