The SDIRA has already been opened and lightly funded (recurring scheduled deposits).Thanks,Tim

Yea I may miss a couple opportunities but I'll have to just add the recurring misses to my arsenal.

At this time my brother and I are interested in taking over the shop and buying my uncle out, and my father has always wanted us to do so and is willing to support this since he sees the value in keeping the land and keeping the business going for recurring income. 

Gross income = $11,466 (assuming 9% vacancy loss) annualEst initial Expenses: $15K totalProperty requires the following est 'rent ready' improvements: New carpet in 1 room, new back doorwall, main floor bathroom updates, new fixtures, paint, etc..No central AC; I calculate based on comps I could get $100/mo. more with AC.. est $3-5KAdditional initial expense risks: Water seems to be leaking through cinder block foundation in 1 spot... no idea how much this would cost to repair/mitigate.Furnace looks very old; city winterization report shows it was functional, however no clue how much life is left...Recurring expenses:Taxes/Insurance- $4,450 annual // $379/monthVariable cost PM (10%), with 9% vacancy loss-  $96/moI assume $500 annual expense/repairs plus $100/mo in reservesI assume $300 annual advertising/admin expensesTotal annual recurring expenses = $6,592NOI = $4,874In order to net $200/mo cashflow with PM (my own arbitrary target for my market) and yield >9% cash ROI, I need to purchase this property for $45K, assuming a 30yr, 20% down mortgage.This property would yield (with PM): $215/mo cashflow, 9.75% Cash ROI, 11.79% Total ROIThis property would yield (without PM): $310/mo cashflow, 14% Cash ROI, 16% Total ROIFinal rent/price ratio would be 2.3%thoughts ?

I am on Bigger Pockets because i want to create a reliable recurring income for the future.I live in a co-op with a mortgage and I also have 2 investment properties without liens.

The biggest recurring cost is MLS and Realtor association dues.

Below is an illustration showing the effects of urban sprawl over time on an investment property.As to other long term factors:Las Vegas population trend.Las Vegas per-capita income trend.Las Vegas investments and the 2008 market crash - I can't link directly to our case study so please see my profile and click on the link titled: "Case Study - Real Estate Investment and the Las Vegas 2008 Market Crash"Comparing Properties In Different LocationsWhen you compare return in different locations you need to consider all the major recurring cost factors plus rehab cost, rehab risk and long term maintenance cots.

I also think your maintenance reserve is a little low, or at least you should put in something for recurring capital expenses such as furnaces and A/C's going out.

Small mobile home parks are not as marketable, so if you have to sell in a hurry it will be for a 15 cap or more.This will take a lot of work to get it positioned the way you want it, or you can keep it a trailer park and operate it the way it sits today which will be a ton of recurring work in perpetuity.Most would say there is not enough meat on the bone to make it worth their while, but if it's nearby and you want something to cut your teeth on would be an okay place to start.

I have been listening to a couple of selected BP podcasts and the recurring theme is that most investors lose money on their first few deals, I don't wish to be part of that statistic and while not every contingency can be planned for, I'd rather set myself to err on the side of caution.