Without knowing what the asking price is and estimated value I can only make assumptions.

You confirmed my assumptions.  

My assumption is I can get a HELOC within a year of the purchase, but please let me know if there are more stringent holding periods to qualify for a HELOC. 

The deal was done with a Freddie mac loan assumption with 4 more years left on the loan. 

Your assumption is that families don't need to spend anything for housing. 

I'm going to make a huge number of assumptions and I want to be told which assumptions are wrong and what the right way of looking at this is.Say I invest in an apartment syndication or storage unit or mobile home park or something like that.

Hi Kusum,Wonderful responses some of these helpful folks gave above so don't want to beat a dead horse but....I will be operating under a few assumptions:I am operating under the assumption that you would like a neighborhood that is more or less safe for yourself or a relative to walk around the area with the young ones.

It will give you double digit cash on cash return with typical financing and other assumptions that would be considered normal when analyzing a park. 

A "mortgage assumption" is when you go through the qualification process and the lender officially lets you take over the loan. 

I made that assumption, twice.