Should I flip a modular home in a 55+ community

[Lance Conyers]

I have an offer to purchase a 1988 modular home in a 55+ community in Florida for $16000. It needs a new roof, a wall knocked down in the kitchen (to give it an open concept), paint inside and outside, new flooring and kitchen appliances. I estimated repair cost at $15000 with me doing all the repairs. The sell cost should be around $60000ish. I will have to pay a lot fee of $600 a month till it sells. The sell has to go through the park as I will not be able to sell it so im not sure what the commission for the salesman would be.

Would this be worth the investment?

[Aaron K.]

It needs a new roof, new paint, new flooring, and kitchen appliances, and you're expecting to spend only $15k on rehab? The roof alone is probably $7-10k, appliances $1500, flooring $2k, and paint if you are DIYing is $500-$1000. That's not counting the stuff you don't know is broken yet. Commission is probably at least 6% so another $3k, and 55+ homes tend to sit longer because they have a more limited buyer pool. Is there an HOA fee that you also need to pay? Have you factored in financing costs?