I'm finally showing up -  in order to push past my fear of all the unknowns in the hope of changing my family's financial future, and I'm truly excited about the possibilities.

There is a Mobile Home Park that I have been looking into that I intend to post about in the Mobile Home Park section.After reading books and listening to podcasts for the past 6 months there are so many unknowns but I would like to get to the point of working through my first deal by the end of the year.

Turned out they sell homeowner, landlord, auto and umbrella cheaper than my last broker via some unknown, but reliable, insurance companies.

ABANDONMENT OF PERSONAL PROPERTY72.101 and:(1) the last known address of the apparent owner, as shown on the records of the holder, is in this state;(2) the records of the holder do not disclose the identity of the person entitled to the property, and it is established that the last known address of the person entitled to the property is in this state;(3) the records of the holder do not disclose the last known address of the apparent owner, and it is established that:(A) the last known address of the person entitled to the property is in this state; or(B) the holder is a domiciliary or a government or governmental subdivision or agency of this state and has not previously paid or delivered the property to the state of the last known address of the apparent owner or other person entitled to the property;(4) the last known address of the apparent owner, as shown on the records of the holder, is in a state that does not provide by law for the escheat or custodial taking of the property or is in a state in which the state's escheat or unclaimed property law is not applicable to the property, and the holder is a domiciliary or a government or governmental subdivision or agency of this state;(5) the last known address of the apparent owner, as shown on the records of the holder, is in a foreign nation and the holder is a domiciliary or a government or governmental subdivision or agency of this state; or(6) the transaction out of which the property arose occurred in this state and:(A) the last known address of the apparent owner or other person entitled to the property is:(i) unknown; or(ii) in a state that does not provide by law for the escheat or custodial taking of the property or in a state in which the state's escheat or unclaimed property law is not applicable to the property; and(B) the holder is a domiciliary of a state that does not provide by law for the escheat or custodial taking of the property or a state in which the state's escheat or unclaimed property law is not applicable to the property.

If any of these are unknown to you, then you have some homework to do.As background, in Calif any facility with 16 or more apts *MUST* have an onsite manager and that complicate things legally, eg:  the manager IS an employee and you get to play with SSI, and employee tax withholding. 

Rent it for a year ... now, you know you have a solid property, you know after a year you have a solid tenant, you know how much the operating expenses and rental income are, you've taken much off those unknowns and risks off the table, so you can now safely cash out refinance it to a level you know will cash flow (since you've validated the numbers), and can take that cash onto the next deal.

As a general contractor, real estate broker, investor and property manager for the past 40 years I can tell you first hand that rehab and repair projects prove to be the most costly and have even been known to break the bank.There are so many unknowns and uncontrolled variables with rehab projects.

Just make sure you are buying based on sound principals like good cashflow and have enough in reserves to handle any unknowns.

So the real vote approval is unknown but go ahead and add a few hundred votes easy.

On the first project it was really unknown how long it will take as he worked alone, and couldnt predict an accurate time frame .