Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

We also charge a $45 late fee on the 6th along with a $25 notice posting fee.

I was curious about Lendbase already prior to reading this post.

I don't want to bite off more than we can chew with managing a full reno while we learn the ropes. 

Quote from @Josh Smith: Hello guys,This is my first post on the BiggerPockets forums. 

I’d appreciate any guidance or tips to get started on the right path.

It saved me when things got real (hello, crazy boyfriend with trust issues).Security Deposit: Non-NegotiableOne full month of rent as a security deposit (at the very least!)

Quote from @Fred Scott: Sunrise Capital Investors - Mobile Home Park Investment FundI've seen a few posts about them here but none of them actually talks about what the actual annual returns have been.They are advertising heavily for passive tax deductions which is fine but what are the actual returns over a period of (say) five or ten years?

Now they're full of 5-10m homes.

Hey all,First post!