I would build in assumptions around vacancy, insurance, utilities paid by owner, taxes, etc...

Hey BP,Looking for a solid investment software I can plug assumptions into and have it churn out solid reports.

Why is all that a naive assumption on my part? 

Here is what we're all responding to, which is based upon an assumption which is wrong:BUT...when you have that "Low Jack" (the word RENTAL in the LLC) on a Judgment, you got a pretty good chance of getting paid, sooner or later as one day out of the blue, a Lender contact you asking where the borrower needs to mail the payment so he can get the mortgage needed to close on a home!

Looking at this as a MHP:Hard to see such high lot rent in a place "far out", but let's play with that and some other assumptions:12% Cap, 9 Lots at $350/mth, 50% expense ratio (park provides water & small number of homes),  = $158K. 

This is my assumption as to why we are not getting many SEO leads, despite being ranked 2nd for quite a few keywords.For direct mail, we targeted absentee owners, divorce, NOD, and bankruptcy (I think I'm forgetting one).

My tenant appears to be under the assumption that rent is being prorated for the entire cosmetic repair of the wall.

And I would not make assumption that cash sale = investment.

Additionally, I will add:-I don't think 38% expense ratio is being conservative, being at 50% is conservative and some buildings exceed this-bank won't even lend on a deal with a DSCR that low, you need to underwrite to at least a 1.25 or the deal won't get done-figure out what financing vehicle you're using, agency debt (Freddie) is possible at a lower LTV and interest rate but comes with requirements, community bank is tougher to get 30 year am on-I see nothing about exit assumptions, you might have to refi/sell after 5 years with higher interest rates and a softer market...then what?

The fact is, banks originate these mortgage, it's normally sold as a package to investors, and investors buy these mortgages safe in the assumption it will not modify when bought in any way.