I am an experienced Contractor/Investor. and I see you are a Real Estate Legend?

We are also considering refinancing, purchasing a couple of the out of state rentals, and renting out the downtown property.Sacramento is pouring tons of money into it's downtown including a brand new basketball arena and surrounding complex.

You want to find out what is typical for the area and exceed that expectation if it's a cheap item to change.Maybe refacing the pool and adding a waterfall and updating the common area.Redoing or adding an exercise room.Making a small playground area or adding a basketball hoop or tennis court.It depends on the area but the little things will go a long way.Are rents per unit going up,declining,or staying flat in the area??

Here's the low down:168 spaces10% occupiedPark is bank ownedBank is asking $650k --they have an appraisal for this amountPark is on 20 acresThe only ammenities are a tennis court and a basketball courtLot rent is $150/monthThere is no onsite mgr, but an onsite handymanPark has 2 wells, and lot rent covers water and garbageThe bank is willing to finance, and from what I hear they turned down an offer at $410k, but my guess is they'd take something close to it.Bank is willing to offer extremely flexible termsThe park has been "cleaned up" there are no non-paying residents or vacant mobiles that need to be removed or repair work that needs to be doneThe park currently has no website and no marketing efforts behind itThe park has a bad reputation in town--but that could be changed with some improvements as well as a name change (IMO)How would you look at this opportunity?

I'm definitely ready for the football and basketball to start up again.I think your path of flipping leading into long-term rentals is exactly where my partner and I are headed.

specifically, neil Narayan, this forum’s legend has been very helpful.  

It makes them feel involved.This only went wrong once when some old bat kept calling me about anything "they are playing basket ball in the road" "err yeah, that's kids do" "but the bouncing of the ball hurts my ears" "foxtrot off biddy".

Anywhere from single/multi-family projects (fix/flip, BRRRR, and new construction) from an investor, rehabber/constructor, and manager perspective.I very much look forward to meeting other entrepreneurs, investors, workers, legends, and people that make up this fascinating real estate machine.Cheers,Mauricio

Oh for sure @Ali Boone I am a huge UT fan especially football and basketball, but I love college football in general!

Its back to basics there.As for the urban legend stories of housing dissapearing in 10 mins , it seems a bay area FOMO thing.