My initial question is… Is it good or bad to have individual septic for each mobile vs one big central unit??

I have an experienced opinion on the matter, but am seeking outside perception and strategies, if any.Additionally, what are the implications of the NAR Settlement regarding this strategy if any?

I’m here to learn, share, and network with like-minded individuals who are also on their path to financial independence.Looking forward to connecting with you all, learning from your experiences, and sharing my own journey as it unfolds! 

Welcome to BP and congratulations on seeking to begin your real estate journey.Are you looking to invest, purchase a home to live in, or perhaps explore commercial properties?

Quote from @Brian Gaiss: Hello, newbie to real estate investing, but looking forward to learning and networking with like minded individuals.

If you were to seek a LOC against #3, you would not get much as an investment property its very difficult to get a LOC and they typically will not go above 75-80% LTV which is where you are at.2.

Readers should seek professional advice.

You will start out as an individual investor and then as you scale become a commercial investor.

Even if the tenant can’t pay, it sets the expectation and documents the issue.Small Claims Court: If the tenant refuses to pay, you could take them to small claims court, where you can seek repayment without needing a lawyer.Security Deposit: If the tenant has a deposit, apply it toward the damages.Consider Eviction: Given the arrears and damage, eviction might be a last resort to prevent future losses.Talk with your property manager to create a plan that minimizes further risk.

For Canadians seeking to tap into the market in the States, the way the LLC is arranged creates a challenging tax environment and basically leaves you limited return.