VanGundy never purchased or rehabbed these mobile homes and I question if the agents or account managers ever did their due diligence and any simple investigation -- like, "Could I see where you renovate these units?"

The 70% rule suggests buying a property for 70% of its ARV minus repair costs to ensure profit.

I’ve looked through the forums and but several of the listed banks previously suggested no longer offer them.

Any suggestions or advice would be greatly appreciated!

Any suggestions?

@Hector Espinosa While cap rates can vary widely from one market/city to another and from one type and class of property to another (and based on the quality of the tenant), I did a quick search on LoopNet for MF properties currently for sale in SD and most "asking prices" suggest cap rates in the 4%-5% range.

Because you are self servicing your loans most are not legally compliant with consumer protection laws and CFPB requirements such as sending statements on a monthly basis that have all the language the CFPB requires as well as each state may have additional requirements for sending out just a simple statement.

Hi @Charlie KrzysiakI wouldn't suggest a condo.

I also invest spare cash in SPY its not going to 0 and gives a decent long term return. 100 percent.That's my message.It's freaking simple.

My suggestion is to look for someone with a strong track record in investment properties, ideally someone who has successful investments themselves.