As for historic data you can upload that into Quickbooks so you don’t lose it and it will give you the ability to track year over year profit.

We would do most of the work ourselves, and the house may also be eligible for historical tax credits (what's left of them).Thanks in advance!

@John Franczyk on the tax front, there is no expense you cant write off, or business tax benefit that cant be taken weather you are an LLC or a sole proprietor historically, its all pass through anyway, for example if you have a HELOC on your personal home, and use the money for business purposes, the interest and expenses are deductible as a  business expense. at the end of the day it makes no difference, unless you are avoiding  SE and filing as an S-Corp, but thats for active income, not passive.

Tim - the property is only partially fenced, it is graveled, and historically has been 100% occupied.  

When looking at historical data, there are no what-if’s because we have quantitative information available.

As a category, historically there ARE higher default rates on manufactured housing, so they have their own loan programs that aren't quite as sweet as 'vanilla' stick built loans, but hey, it's still a big universe.  

The propertythe property i'm looking at is 16 stories, its on the national historical registry, the current owner is tax delinquent and out of state.

That being said, how did you come up with that number, is it based on historically in the past 6 months homes normally go for 15% off MLS price, or did your contractor specify the amount of work needed?   

With MHP's becoming so popular right now, if the market doesn't drop out, they will be even more popular, and the ever consolidation of the industry, cap rates are compressing because more people are getting into the space that have lower return objectives and are fine with lower returns because they are placing their capital that has historically earned them lower returns than what they are used to based on never investing in this asset class.  

I've got two deals I'm looking at but am only going to do one or the other and wanted to get everybody's thoughtsHouse 1 has1) Has three units2) Cash flows about 300 a month3) In a city with a real estate market that is starting rise and with it being a block over from the historic district stands to be in a good position to have good tenants and some good appreciations4) probably will need a new roof in 3 yearsHouse 2 has1) Has 3 units2) Cash flows about 600 a month3) in a declining neighborhood4) Brand new roof and central AC UnitsWhich one would you all buy?