First potential investment and have some questions

[Bryan Hall]

I am looking at some mobile home parks in my area I would like to puchase. Prices vary but most are 400k-1.5m ranging from 10 units to 40 units. I found a nice one listed 475k with on active unit at 950/mth and 8 empty units in need of repair. Seller suggests 100k is needed and he could be right but the lot rent alone could be 400 a mth so the units in hand could be sold for a few thousand a piece. Don’t have but maybe 15-20k cash and need ideas for making an offer closer to asking. Maybe 300k. Is it worth it if it can bring 6-8k monthly with a total 400k-500k invested. Any help is appreciated. 

Thanks so much!

[Nathan Gesner]

Quote from @Bryan Hall:

The first thing I recommend you do is learn how to analyze property. If you can spend $500,000 and earn $6,000 a month, it's probably a great deal. But what are the expenses? Is there a possibility of increasing income? How will you obtain financing?

Here's a guide that describes what good cash flow looks like and how to analyze a property.

https://www.biggerpockets.com/blog/rental-property-cash-flow...