If you'd like our "Keep or Sell" spreadsheet, email me at [email protected], but I think that you'll have to be very aggressive with your assumptions around rent growth and price appreciation in order to justify keeping this property. 

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Going back to my assumptions, what part did I miss?

Assumptions: specifically allowed in city ordinances, mobile home manufacturing in the area, or that someone heavily marketed that area as a retirement location in the past. 

@Fulati PaerhatiRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@O Samuel AdekolujoHate to state the obvious, but your approach isn't working.Where is the problem, is the question:1) Your assumptions?

I ran some very basic numbers on option 1 and if you can get a ST/MT rental per your comments and other assumptions you list, this could be a deal for you.

@Tove Fox hope you find this copy & paste useful:)-------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It seems assumptions are being made so let me provide more context.

I think there is an unfair assumption that every rental looks like “Animal House”!