Given the current NOI of $19,440 and a reasonable cap rate of 8-10% for a park with park-owned homes and septic systems, a fair price would range from $194,000 to $243,000.

@Jacob Dalton - I have been a landlord in Chicago for 13 years and as an investor agent I have worked with 200+ investors on the north side of Chicago over the last 10 years. 

We can also lend to both individuals and LLCs.I'd be happy to share my experience as both an investor and as a lender.

Right now the only utility at the garage is power so basically I am starting with a frame and a roof. 

At the beginning, I had to use my own money and credit lines and a HELOC.  

I've been in the lending industry for 5+ years now both as a loan officer and a broker and a processor, have also done some UW.Over the years, I have seen how lenders and brokers spend marketing dollars. 

We have another park with a free space rent manager and as we have raised the rents he continues to live there for free. 

As with many here, I've been using a mix of Cozy (now Apartments.com), Stessa, and a few other custom workflows for turnovers that have worked well in the past, but with the takeover of Cozy by Apartments.com I'm now out shopping for better options for my primary, tenant-facing service. 

And a .81 in Nampa, ID. 

As both an investor and a mortgage broker who has personally used both options, I can say there are benefits to each.It ultimately comes down to comparing the two side by side based on your specific situation.