Have a systematic approach to ensure nothing slips through the cracks.When my mind goes back to my early deals, I remember the times when I didn't have a solid checklist in place.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

You'll add more value to your park by selling the home for an incredibly low price but having the new tenant agree to a higher lot rent.

And you will see many forum threads on the con's of that approach.

Hi guys - we are about to close on a property soon in Philly and are planning to do the following work - -Add HVAC, Add a full bathroom and add a half bathroom, Fix kitchen (keep same layout)My contractor is saying that (Approach - 1 ) - we don't need to pull permits.

A new approach is required.  

Funny enough I never filter by Sale by Owner so will definitely look into that while I educate myself in best ways to approach the owners and convince them why it would be great for both. 

The timing of the sale at $315,000 shows how combining a long-term hold with a flip can be a highly effective approach in the right market.

Could anyone share their knowledge or resources on how to effectively approach this renovation?

Until now, I had a great credit score, but I'm concerned that my increased debt might affect my ability to obtain a HELOC or a Home Equity Loan.A lender approached me, claiming they could help me secure a HELOC, but the encounter felt coincidental, making me feel vulnerable.