I read a few posts from John Anderson yesterday, and it seems in all threads he was misunderstanding things, making assumptions, and negative with no solutions spoken of.

Do a Assumption and Assignment of leases,, within your closing documents. this transfers the lease to you from former owner. 

Being a novice at development of MHP's my assumption was ( as in most new developments ) is if the land cost is very inexpensive then it would usually work.  

Which I put:Water- $80 (HOA pays for exterior water & trash)HOA- $130/monthPMI- $143/monthVacancy- 5%CapEx- 5%Repairs & Maintenance- 5%Property Management- 10%Property Taxes- $100.42/monthThen for the future assumptions-Annual Income Growth- 1%Annual PV Growth- 3%Annual Expense Growth- 1%Sales Expense- 9%

However in the context of my goals and priorities, assumptions have to be challenged. 

I have a few thoughts to share:--I think by writing your response, you've identified one of the key issues yourself:  it's important not to make assumptions about your seller, their motivations, and what they may say yes or no to.  

I guess my assumption is the person providing the owner financing is most likely looking for monthly income for a long period of time so that they can collect all of that interest. 

I hate to make assumptions  and draw conclusions, but in my situation I'm not going to get financing based on income, credit score and reserves. 

Hi -  We are under contract on our first buy and hold that we have been able to find that has decent numbers...Would appreciate any reaction or input anyone has to this deal...good/bad/bad assumptions etc.Location - 63rd and Halsted (very close to the new whole foods developmentProperty - Grey stone with 2 units (3 bed/1 bath) unfinished basement with laundy and 2 car garage.  

There are a lot of assumptions going in there.