If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

Just as bad as the posts you see from time to time of the grandchild wanting to work out creative financing to buy their grandparents house below fair market value.  

As far as self managing, it’s fairly easy.

Not a full fledged house hack, but enough to take the sting out of the rate we got.Not all of Citrus Heights is the same, but the area near Fair Oaks/Orangevale/Carmichael has a good balance of price and quality.

I'm fairly handy, but just to balance things with my 9-5 job, focusing on something that just needs superficial updates or something nearly turn-key is probably best. 

Given the current NOI of $19,440 and a reasonable cap rate of 8-10% for a park with park-owned homes and septic systems, a fair price would range from $194,000 to $243,000.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

In the meantime we are talking to the property manager to find other STR's in the area so we can support a fair market STR rent. 

Most lenders require 6-12 months from acquisition seasoning before using the appraised current fair market value to calculate LTV.

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.