@Mary Parsek you are pretty close with this forum but I would suggest posting this in the "Mortgage Notes" forums.  

., commissions, fees) and consider a 1031 exchange to defer gains by reinvesting in another property.This post does not create a CPA-Client relationship.

I am considering purchasing empty lots priced roughly $10-15K below market value.My plan is to offer owner financing for the land.These lots have water, drainage, and electric connections available, and mobile homes are permitted.The area is experiencing significant development, with the lots surrounded by new single-family homes.I would really appreciate any advice, feedback, or suggestions.Thank you It would help if you shared what you plan to buy them for other than just saying they’re 10 k to 15 K below market.List Price: $55KMy Offer: $45KPlanned Value Add:Install fenceBuild drivewayCreate a mobile home padExit Strategy:Sell via owner financingConsidering the option of adding a mobile home as wellIf you like this post, please consider voting!  

@Nicholas Bourgeois thanks for the post. 

@tom shallcross summarized this well in another post and just inflate your numbers up for a $665k purchase price and $2300/mo per unit for rent.Borrow 80% which is like $3700/mo for Principal, Interest, Taxes, and Insurance.

Also I agree with another post before regarding the complexity of structuring a deal like this, which would also turn me off especially if I was just getting started.

Quote from @Pierre Tran: Hi everyone, first ever post on BiggerPockets!

Quote from @Ricky Reddin: Hello,This is my first post on the forum and trying to get some guidance on a situation.

Please keep those posts in the Classifieds forum.Need a spreadsheet or form?

They post their rooms on the normal hotel, discount site, etc.