This is also why the amount of cash you need is 40% of the loan amount - the closing costs are disproportionately high compared to the loan amount because it's a small loan. 

I'm never going to use your website because I already have personal relationships with people doing that work.

Learnt lesson not to fully depend on property manager and should have made decision faster by reducing rent .

@JD Martin agree 10,000%What I am surprised about is I had a call with someone in Austin today and in sw Florida and they both said things are awful and prices are dropping at high rates - curious don't hear as much chatter here about that as it could be an opportunity 

What I wrote above does not create an attorney/client relationship between us.

He told me he owned a few mobile home parks in town (they were large and had high lot fees) and this is what sparked my curiosity.

I've become interested in finding an individual who can serve as a business partner (doesn't have to be 50/50, in fact wouldn’t want that), but a business relationships that would span across the entire business and someone who would share some of the workload, guarantor requirement and capital contribution and capital raising responsibilities, all of which currently falls on me.

https://www.biggerpockets.com/forums/12/topics/1122318-quality-turnkey-companies?

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Their fees and interest rates were high, but they had the least restrictive approval terms from what I gathered.