Mobile homes are financed different from houses w/ a foundation, so the lowest financing rate is 12%. His tax rate is higher than that.
What ought to amaze us is not his choice, but his limited options!
Just curious – do you have any suggestions? You say that tax savings are not a reason to buy RE, but it’s the only way he can reduce his taxable income. With a larger loan amount, the savings would be much bigger.
I do appreciate all the advice, and have been forwarding your responses.