I'm currently trying to determine the feasibility for a park on that property. 

The only part that Property 1 pays on that loan is the escrow for property tax & insurance for Property 1.Thank you for your insight.You need to look at purchase price to determine cost basis, not how you financed the purchase.

You need to do a cost-benefit analysis to determine if it's worth it.  

Tools like this helped us determine that retiring in the Memphis Metro area was good for us and has helped form our investing strategy, mainly SFR and some commercial spaces (flex, studios, small office).

Over the years, I've done several dozen of these and know how to pick a good one. 

I would tend to agree with the other CPAs typically.The 500-hour test is one of seven material participation tests used by the IRS to determine if a taxpayer is actively involved in a trade, business, or rental activity. 

.- Value add - When building additional units, what steps should be taken to determine how many can be built?

If you had good credit (670-730 range), you have 20% to make a down payment, and sufficient income to qualify for the home you want to purchase - Would you choose the FIRST-TIME HOME BUYER or CONVENTIONAL purchase option...which would you pick and WHY?

So, why would you NOT factor in a car payment when determining the liklihood of an applicant paying their rent consistently on time?

Just remember, it's a challenging journey that calls for commitment, determination, and a mindset that's open to growth.