Is it even worth it to start out barely breaking even?

With the halifax tenancy act and the 2% rent cap there is barely any wiggle room.

When I got this first cash out, refi to build the new house, my debt to income ratio barely made it.

When I bought it, it had been fairly neglected for a number of years by the previous owners, in that they did a very bare minimum of any kind of maintenance.

Hi @Matthew Swearingen, from the bare-bones numbers here it looks like Lima would pencil out well if you could reproduce this opportunity there. 

He is still working, been through bankruptcy, and barely has two nickels to rub together.

In my area full blown home inspections run about $450 and take half a day.Have you found any inspectors that offer a pared down inspection routine for much less? For example they check the roof, foundation, sewer line...

The reasons for the cost variation depends on you and other factors.Will you just put up a pole with the bare minimum box, plug and hookups or will you go all out with LED lighting and special boxes designed for high end parks? 

You want people with a bare minimum of 3X the rent, but in reality it is much better if folks have 4-5X the rent since they can then budget and save for a rainy day. 

They will do the bare minimum to survive with their 2% management fee and $300 leasing fee.Most property managers, particularly good ones, will not work with you because it requires them to deviate from their business model.