Our plan is to purchase again with a better mindset of turning that into a profitable rental.We have diligently completed all the necessary steps and are on the verge of signing a management agreement with a property manager.However, we are experiencing some doubts.  1.

Adding 16 small units can be very profitable, with enough profit for all those involved.  

I haven’t made any profit yet and I’m wondering if I should still file taxes for my “business “. 

If land values are increasing significantly, you can back-end load the seller financing for a percentage of the profit when you sell.To add to prior comment, how many septic tanks do you have?

I bought a 16 unit apartment complex that was a expense nightmare, with low rents, that I eventually gave up trying to make profitable. 

Average profit on a trailer park is between 10-15 percent .

I don't see that happening any time soon based on your 2022 to now trajectory, but you do want to find a way to make it profitable.

You'd learn and potentially earn a profit at exit.Another way is to wholesale the land.

Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.

Petersburg area, resulting in highly–profitable investments.If you need professional and courteous property management experts for your multifamily, single family, condominiums or town home, you've found the right company!