As noted above, up to 50% of gross rental income normally gets eaten up by expenses (taxes, management fees, utilities, landscaping, repairs, capex, etc).

Over the years, the lot rents for parks nationwide has increased at a faster rate.

Being that I get taxed at a higher rate for wage earnings then i do for capital gains I actually take home more for way less work.

It wasn’t a massive deal—our expected assignment fee was $10,000—but when you’re growing a business, every opportunity matters.Everything seemed to be moving smoothly until the title search revealed a major roadblock: the mortgage discharge couldn’t be cleared because the person who needed to sign off was deceased.

Low vacancy rates, rising rents, and high tenant demand for more space/good school districts. 

Start by deepening your understanding of CRE fundamentals, including net operating income (NOI), cap rates, and lease structures like triple net (NNN).

Include in your model rates going up by 2%, and just make sure you enough cash to cover. 

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

Option 1: The loan that the owner has is an assumable loan at a 3.875% rate and still has about $265K.

Also, you could consider buying something with "hard money"; this comes at a higher interest rate, but you might be able to get into a property and either flip it or refinance it.