Weekly and Monthly rentalsThe negatives:Roof is flat and the property is very datedAttracts hoes (male and female)Tough to resell without redevelopment of lot (BL Zoning)The positives:High cash-flowGood location Attracts traveling workers44k SQFT lot Common questions to answer:What is the capital expenditures figureAre there any service contracts in placeHow is it currently managed?

This could be a really nice feature for the house, so it might be worth a little expenditure.

I'm not sure where the line is, but I understand it's for "large" expenditures.

(Of course, you hope they budgeted appropriately or they might jack up the HOA fee when capital expenditures come around)

I'm certainly biased as I co-own a mobile home park investment firm, but here is a quick benefits overview vs apartments:Low, Low tenant turnover - high switching costs (to move a home)Reduced operating expenses: ~30-40% operating margin is typical for a park without a majority of park owned homesMinimal Ongoing Capital Expenditures (provided you're on city sewer - otherwise you could get a $100K-$500K capital item surprise if your private system fails).

So too low HOA fees are a problem.And another aspect of too low fees is that when there is a big expenditure they have to have a special assessment to all the owners to pay for the bill.

Built on an Indian burial ground I swear.

I am also not spending money from the income property in case of a large expenditure.

During the month I write all expenditures down using a 2-column sheet.

In your case it is clear that your REOs where not placed in service until some time after rehab work was done.Your in service date plays an important role in how holding costs and expenditures are treated.Glad to hear that you have kept careful records of the rehab work.Depending on your financial situation you might benefit from a cost segregation study.