We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

Now we are mostly scaling our business with larger communities but I've used many different creative finance strategies including seller finance, private lending, hard-money, collateral from other properties, and lease-options. 

Many carriers are including exclusions for GC commercial general liability coverage and professional liability coverage for engagements involving condos and even stricter exclusions when dealing with conversions.

Most think they invest in a B, but it is really below median, so a C plus or even C minus.If you want to know if your neighborhood is slipping, track the median price of that municipality/neighborhood against the median price of the metro area or State if you want to Zoom out.Here is an example: Wauwatosa (blue) has been outperforming Milwaukee County, Wisconsin and the US.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If the land is included with the mobile home, there are DSCR lenders that will be willing to lend up to 70% LTV as long as it is not a rural area. 

@Jonathan Klemm thank you for including me! 

One thing that I REALLY hate is that most of this Lawyers have great structures and setups...but very expensive packages that include entities that are not necessary.More info tomorrow.  

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.