I plan on doing the site seeing before the conference.  

@Brandon Yuan make sure to visit the Texas PUC site too for guidance on implementation.

But the contracting businesses get 1/3 down at contract signing . 1/3 when we start on site , and final upon completion . 

If you want to figure out the value logically, you can create a spreadsheet that will show your cost of financing and principle paydown on an annual basis to figure out the break-even date between the seller-financing price vs paying market price, but with bank financing.You mentioned a 40-year term, but is there a balloon?

Start by noting the date of the furnace and air conditioning unit—old units may need to be replaced.Some mobile homes were not manufactured to have air conditioners, so it should be a big red flag if you see window air conditioner units.

It should have a specific start date and end date.

I do have the actual rental income for the past 3 yrs at 69K, 55K, and this year 40K to date as of beginning of Aug. 

Make sure up date light outlets and switches as well as door hinges and handles.

I was told by my insurance agent that a % of loss of revenue can only be covered by insurance until the property damage is fixed, which could pre-date the return of essential utilities.

3) Do you have any experience on auction sites for foreclosed homes?