See attached Excel summary sheet.Investment Highlight89% Physically OccupiedSupply Index in a 3-mile radius of 6.8 SF/Capita, 5-mile radius of 7.7 SF/Capita, and 10-mile radius of 8.3 SF/CapitaAdditional Income generated from 4 mobile home lots and 1 mobile home (Not Verified, as thus not included in underwriting assumptions)Key Underwriting AssumptionsDown Payment 25% of Purchase PriceEstimating a CAPEX/Repairs cost of $150,000Estimating Operating Reserves of $10000Stabilized Vacancy and Concessions/loss to lease at 10%Using a cap rate of 7.23%Key Demographic DataTotal Square Footage 21,130 Supply Index: 6.3Population 3,338 1 Yr.

We really are breaking even as far as cash flow is concerned but would also be in a fine financial situation if we rented it back out and would just lose a month of rent.My wife and I both work W2 jobs and manage our rental properties ourselves. 

It has worked well, and for the concerns around variable rates on a HELOC, we account for that risk/fluctuation in our deal analysis. 

Build mobile home on the vacant lot I understand the cost involved for rehab the existing house.  

My only concern is if I have to sell the property, I'd have this huge loan that I would have to tack onto the price of the property?

People are doing it, so presumably it works.FWIW, I invested in Japan for a few years, but lack of rent growth, lack of appreciation, concerns about natural disasters, and just general lack of confidence in the J market led me to shift focus only to the US.

Not really concerned with how long it takes, I plan on doing this for good no matter how long it takes.

They sent me a contract to sign with the purchase price and timeline.My concern is how they can provide a price without even inspecting the property.

I look Monday through Friday at Facebook Marketplace, my MLS, KSL.com, and the Mobile Home Park Store. 

I would be more concerned about looking at a condo as an investment.