Given the current NOI of $19,440 and a reasonable cap rate of 8-10% for a park with park-owned homes and septic systems, a fair price would range from $194,000 to $243,000.

I asked him a lot of questions about the business and as soon as I got home I was doing research and joining RE forums focused on multi family.

And a good property manager will take care of day to day, but you will still have work to do.

But more for you so that you are not left with a lot of money out and a loophole for the other partner to get out of the agreement and not have anything to go after them on. 

The combination of families looking for more space, good schools, and a quieter lifestyle has been a big driver of demand.For my investments, I’ve noticed:High tenant quality: Families or professionals relocating to suburbs like Naperville and Wheaton tend to stay longer, which helps with stability.Increased competition: It’s definitely tougher to find good deals, especially in top-tier school districts.

@Pranav PatelStarting your real estate journey with $50K saved and a strong income ahead is a fantastic position to be in.

Negotiating favorable terms is both an art and a science, and in real estate, it's a critical skill that can make or break a deal.

STR is a hospitality business first, and a for-profit business second (if you want to succeed).

These are professionals with additional training and a stricter code of ethics.

Quote from @Miguel Del Mazo: Quote from @Jonathan Greene: Quote from @Miguel Del Mazo: We have 3 2/1 condos in our portfolio that attract traveling professionals (medical or otherwise) and a triplex that we essentially BRRR'd down to the studs.