I would still set aside money for renovations that are need based if you do that and use the rest to invest.

All Texas based. 

They're highly popular for turnkey rental properties because qualification is primarily based on the income generated by the property itself rather than the borrower.

A business partner approached me about it, and I negotiated the deal based on CAP rate.

"^ Do you feel like income you make on the units is based more off of square footage or location rather than add-ons you made for you while living there? 

Assuming a 40% expense ratio, the net operating income at the current income level would be around $19,440 annually and $28,800 after renovations.At a $360,000 asking price, the cap rate based on current NOI would be 5.4%, which is low for a park with park-owned homes and required renovations.

It seems to me that they all whether paid of free, will all have the same exact amount of houses because all the transactions are all public and so they seem to compete with each other based on the quality of the data of the houses, how up to date it is, and the user experience in configuring the how the layout is.

They are very likely based overseas.

Quote from @Anderson Banegas Cerrato: Elijah, this is pure fire, man!

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance