when underwriting a property a good rule of thumb would be to set aside ~5% gross income for each Cap Ex, maintenance, and vacancy. (15% total)I dont know much of the market in TX but in central MA i work with a lot of investors that are interested in acquiring multi family properties so that's mostly what i deal in. 

Alternatively, you can offer more such as central air when the competition doesn't have it.Avoid areas with a lot of new rental deliveries.

Will be interesting to see how 2025 plays out. 10 yr rates are still over 4 and spreads are not coming down quick enough to rescue people who bit off more than they can chew.Good luck with your MHP, we like that product a lot and have a deal in Central Valley, CA! 

Positioned near land we own on West Concord Street, which is slated for a major development of 12 patio homes and two duplexes, this property is central to a broader strategy of enhancing value and transforming the area.

My initial question is… Is it good or bad to have individual septic for each mobile vs one big central unit??

Central to my argument would be that making sweeping changes to the covenants themselves or changing how the covenants have been historically enforced only addresses the current problem indirectly. 

Columbus, Ohio, and the rest of Central Ohio, has seen a lot of appreciation due to the jobs and population coming to the area

Strategically positioned behind two other investment properties, it plays a central role in transforming the area into a thriving residential community.

Often, those advantages are boots on the ground and market knowledge, which are the two things you have/are working on.I think, in general, you will find all those central Illinois areas provide decent cash flow with low appreciation - generally speaking. 

as mentioned above i would find a househack property in need to cosmetic upgrades that has below market rents. make the necessary upgrades (ie. appliances, flooring, paint, laundry, fixtures) allowing yourself to bring the property up to market rent standards and increasing the rent.I'm not too familiar with the market/properties in MI but in central MA we have a lot of triple deckers that are 100+ years old.