The condition, age, and future capex issues are more important in my opinion.

We recognized market conditions were optimal for a fast flip, and our ability to act quickly minimized holding costs while maximizing profit.

Though, if you want to make changes with newer mobile homes there may be some restrictions (i.e. age, condition, etc.).

It was priced at $105K.... in fair/poor condition... it was still an amazing deal. 

Anyway, after appraisal we were able to insured the property with Universal company, I recently got a letter that my policy was going to be cancelled due to the condition of the roof.

Where nothing really changes weather-wise!

This discrepancy might indicate a complex market with varying property types and conditions.- Market Volatility: While home prices have increased significantly, the average home value has seen a slight decline of 0.4% over the past year.

If you are looking for an investment it is very helpful to know from the numbers perspective of what you are looking for, strategy, what type of areas you are looking in, condition of the property/how much work you are comfortable with, etc.

So, when you replace something and make it bigger, better, or last longer, it’s categorized as CapEx.On the other hand, repairs are generally routine maintenance tasks that keep the property in its ordinary operating condition.

Lenders are gonna want to see profit and loss statements, rent rolls, property condition assessments, the whole nine yards.