I would rather pave my own way.This new, all red brick duplex, is beautiful.  

. ($25,000 purchase to $200,000 sale price) Although at the time I despised the crew that bought my childhood home, it showed me many valuable lessons and paved a path to where I am today. 

But in concept, it definitely works and helped paved the road for me to become an investor. 

Also the extra land may have some additional value, especially if it can be built on (or expanded onto by the existing building).Once you're sure you've got a handle on what your expenses should be the other thing to look very closely at are the deferred maintenance and any building systems that are reaching the end of their life (roof, boiler, paving, etc).

My main area of expertise is landscaping and asphalt paving, as I co-own a company that performs those services with another family member.

Water, sewer, underground utilities, age of homes, paved roads, etc.

I mean there are 40 acres, so you could potentially put a ton of mobile homes on there, but there is a plan for at least 130 in the future total.There is a park 15 miles away that is renting for $400 per spot but it also has paved roads and a pool.The owner estimates expenses to be $15,650 per year($2350 in liability insurance, $4000 in repairs and maintenance, $5200 in trash, and $4100 in utilities)That puts the NOI at $81,850 just at current capacity even though there is a ton of room to grow it seems.There are three chlorinated wells and two regularly maintained lagoonsThere is also a 1500 square foot house on the property that the manager lives in that I can most likely get included in the dealIn 2006 the place  appraised for $675,000The asking price is $550,000 The land, the house, and the MHP have been in the owner's possession forever but he currently lives out of state.

Starker is the name of the litigant who took on the IRS and paved the way for the deferred nature of 1031 exchanges we take of advantage now.You're correct your primary residence does not qualify.  

If it was on a perfectly paved street, the price would be higher.

Very close to a paved biking path (we call it a "greenbelt" down here in Boise).