Here are the key data points:Park info  Located in Alabama61 lots25 owner occupied homes18 park owned homes (14 currently rented; 4 currently being repaired and should be rented soon)18 vacant lotsAvg lot rent - $160 (unknown what the market rate is but it doesn't sound like there has been a rent increase in at least a year, maybe more)Avg POH rent - $400Expense ratio - seller claims 26% but I'm estimating 35% for the lots and 50% for the POH'sCity water - individually meteredSeptic - good condition (allegedly); a couple were pumped last year, none this year (no lagoon thank heavens)Seller claims gross income $130k, expenses $30k, and NOI $100kI calculated gross income of ~$135k, expenses of $60k (55% on POH and 35% on lot rentals), and NOI of $75kOther infoMom & pop seller, but park is listed with a brokerPark has been on the market for > 3 years (recent price reduction)Greater metro area stats look goodPopulation = 115kMedian home price = $105kUnemployment < 8%Household income > $40kHousing vacancy ~ 15%Closest Walmart is 7 miles awayFreeway is 1.5 miles awayNumbersMy valuation is coming out about $80k-$100k under the seller's asking priceWith conventional financing I'd be hoping for a purchase price of $500k, $100k down @ 6% over 20 years (not sure if this is plausible or not)Assuming that financing, I'm expecting net cash flow of $40k (after debt service)Upside potential is in raising rent and filling the 18 vacant lotsFollowing the same assumptions above, raising rent $50 (if the market supports it) would change NOI to ~$90k and net cash flow of just over $50kFilling the vacant lots could potentially increase gross rent up to somewhere between $150k-$200k, depending on what the appropriate occupancy rate is for the areaWithout verifying any of the above information (haven't offered anything yet so there's a lot of DD left to do), the deal seems to make sense. 

Now we have an opportunity for them to buy a lake property next to ours.

I just completed the rehab of the old Lake house from 1945 into 2017.

If you can search the site.. check on Brian Burke  post about his adventures with CA. court house steps.I done quite a bit of this over the years in ORegon.. and cut my teeth on it in Lake Co.

Hello, I have jumped into investing in single family homes in Northwest Indiana, in Lake county.

I live in Marysville Township just west of Deer Lake Orchard off C.R. 108.  

Following up on my earlier post, please see excerpted below the latest news I have from POL on the defaulted investments in my portfolio.Tower Lakes -- in September, POL advised that "Our Asset Management team has secured a foreclosure sale date of 10/4/2017.

https://www.redfin.com/CA/Lake-Elsinore/31533-Cany...

What about Modesto, Central Valley and lake and king county? 

Any body have options for a 5% down mortgage on a 575k purchase price for owner occupied home in Lake Tahoe, California?