I did a survey last year and spoke to 8-10 lenders and they all said they wouldn't add extra value to the property based on it being a working STR.You need to check comps of other mobiles in the area of similar quality and price it accordingly.

They do conduct a background check, credit check, will check cash reserves, and will make sure the borrower is using their funds for business purpose only, but there is less emphasis on the borrower and more on the deal itself. 

With Servicing, it’s been a little more of my time in getting contributions in, checking on monthly distributions (which are not there) ..

Third, check your state's civil laws to determine if maintenance costs can be assigned to the debtor by the lien holder. 

It is fine to pay your bills with it, but as soon as you received your pay-check pay.

Check out the BP's Real Estate Events & Happenings area as there's an event this week which will be covering the topic in Tampa, for Tampa region.

For mentors/coaches, check out local REI meetups here on Biggerpockets, Meetup.com, or Collin County REIA.

Listing photos were terrible, tenant vetting was lackadaisical, checks were sent to wrong addresses, tennants weren't properly vetted, charges for "mulch" and landscaping were charged but never physically carried out.

It’s been a good blend of cash flow and appreciation for me, and it might be worth checking out as part of your trip to the Midwest.If you want to chat more about Detroit, feel free to reach out.

If you are in 450K market, check comps to see what is selling for rehabbed properties in the market you will be flipping in.