You can look at a mobile home and see it as an easy rental with new carpet, trim and some paint but there are other bigger uglier expenses that can come up.Roof Replacement, soft floors (water damage) in kitchens and bathrooms- most floors are particle board, exterior door replacement (special order), underbelly insulation falling, bad hot water tanks with rotten floor underneath (real joy), bad windows (water again), bad bloated siding (water), water damaged base frame around perimeter of home, cracked tubs (special orders) and frozen pipes (Good luck finding a plumber to come work on a mobile home- they do not exist). 

If you kept the property, and accumulated the CF/yr, it would take you 25 years to get that same equity that's sitting, frozen in your property.Also, if you cashed out and used that same equity as a DP on different RE, at 20% DP, that equity would buy you $2M in PV, not just $700k,...and, I'd be willing to bet, you could find new RE that would have a yearly CF well over $20k/year.On top of that (remembering my initial statement above), any appreciation applied would be applied to $2M, not just $700k. 

There are many horror stories on collecting for damages from OTAs including a current thread on BP where guest left doors and windows open upon exit that resulted in frozen pipes.  

When a syndicator noted recently that due to 8 degree temps in ATL, THREE of their assets were wracked by frozen pipes bursting, it caused me a little alarm, a little worry---and then I went back to watching TV.

Since then, I have been repeatedly told that my funds would be forthcoming, only to later hear that all funds are frozen.

PS: If you take a stroll through the Reddit boards, you will see a boatload of unhappy investors, who are reporting many of the funds have frozen dividends, increased escrow and capital calls and management fees.

Then some people are frozen with fear of regulation and who don't do any deals or stick to investor loans.It's not actually difficult or scary to get it right.

Leave credit cards at home in the freezer in a bag filled with water that has frozen over....lolAmazes me how many people fall for these types of programs.When I buy NNN properties either my buyers wanting to own direct and I find the property or whether they are accredited LP investor on my syndication deals they learn with me while they INVEST CAPITAL to own fully themselves or a piece of the deal. 

To reinforce what I said about making sure the credit tenant is proven and sustainable all you have to do is look back on the past 15 years or so:2009-2012: frozen yogurt 2012-2014: “new and improved burger” spots2014-2015: spin class2015-2016: megaformer and Pilates2016-2017: poke bowl2021-2022: "new and improved cookie" spots2021-2023: indoor golf2024: pickleball(5) If you are in a situation where seeking an F&B operator, be aware at this time these operators are seeking very high T&I allowances which may not be a worthwhile investment for you to make.

Otherwise frozen pipes may happen.