Durham, North Carolina - With 20% of North Carolina's population within its borders, prestigious higher learning universities, and a young demographic (a third of the pop.

A lot of it went to traveling, since it has been a big part of my life, from camping out of the bed of a truck, to my inherited VW vanagon, to my now truck with a pop up camper.

Very little pops up for sale that I haven't seen.

Purchase price: $112,900This is a distressed mom&pop 6-plex.

In fact, as I thought about my tenants who are "less than perfect" in my mind, I realized that the less than perfect attributes that popped into my mind were what I consider prejudices.

OFF market deals are popping up now more then ever. 

I just fail to see how small mom and pop landlords that do a very nice job .. and are not slumlords are taking on some huge liability. 

I would look at other parks and see of they have homes you can get and renovate before popping for new homes in a run down park. 

Save a "reserve" so you can handle vacancies, maintenance, and all the bad things that pop up when first buying an investment.My recommendation is that you read a book like "Set For Life" by @Scott Trench and get your financial house in order so you go in prepared.

Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.