general rule of thumb for most parks are lot rent * # of occupied lots * 12(annualize)=Annual Gross revenuethen multiply that by .6(if park pays water/sewer) or .7(if tenants pay water/sewer) to establish you NOI(net operating income).  .6 and .7 are for 40% or 30% operating expenses.Then divide that number by your cap rate you want, most people use 10% cap rate so .10 and you get your purchase price.

A quick and dirty valuation based on a commercial appraisal is a 100 gross rent multiplier, which is really just the 1% rule stated another way.

@Joe CassandraYep, that's generally how parks are valued - Lot Rent Stream as one separate valuation / POH as separate.In my spreadsheets, I separate the income / expenses for the two different portions.So if you're paying $2000 / mo to a maintenance man and he's spending 75% of his time fixing homes, then $1,500 is going to the POH side of things, and $500 to the Land Side.With the RTO stream, you can use a net present value formula, where you take all the anticipated cashflows, discount by 25% due to people bailing, etc, and then discount that income back to a rate you feel comfortable with (ie. 15%).That will give a theoretical value for those income streams.With POHs, here's what I've seen people do:Value based on what you can sell them for << more commonValue based on a gross rent multiplier, typically 1-3.

if your new loan amount, the appraised value multiplied by the LTV, doesn't at least cover what you owe the orig seller, then you can't refinance, much less cash out refi.  

Now multiply the number if piers by $250. 29x250 = $7,250.Now add $200 for permit & $400 for Engineer's letter (yes, both of these are required by the City). 200+400 = $600Total foundation price = $7,850.

But it is very important you setup a list of what you are looking for like credit score, income versus rent multiplier,  length of rental history.

I multiply that times three and then divide by the number of days in the month to create a daily holdover fee:$1,000 x 3 = $3,000$3,000 / 31 = $96.77$96.77 x 3 days = $290.31

@JosiahCooper  I also like to see what Gross Rent Multiplier numbers look like.Make a spreadsheet that lists properties you want to analyze.

To have some fun with arithmetic, 30 people at 150 lbs average weight multiplies out to 4,500 lbs.

To make it even more accurate you should have the input value of the Rehab budget multiplied by 2!