Our guests have their own entrance and are totally separate from our living quarters, and we still enjoy more than 1,000 square feet of our own space.

They took about USD10,000 from me to do repairs via a 'contractor'.

But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).

Experiences help us to determine good estimates and I generally estimate on the high side and can enjoy the pleasant surprises.

He accepted then hemmed and hawed at closing, but did sign.  6 months later I sold the warehouse for $1,025,000 to an Amazon contractor, and refied the office warehouse loan to a fixed 20 year 4% interest loan with no personal guarantee.  

How the porch enables you to enjoy the cool evening breezes while you relax.

If it was me, I would get a contractor to quote hanging and floating drywall for the whole house to have an idea of the price differential. 

Ask a contractor. 

Great resource for everything an investor would need to manage a rental and reviews about PMs, contractors, and what not.

Specifically asking about public safety, appreciation vs. cash flow thoughts, and complexity of building a local team (agent, property manager, general contractor).