So those general expenses get categorized to the holding company as the parent organization.

My only concern to look out for is that things can go 'rural' pretty quickly if you start venturing outside of town, and most lenders are going to put the brakes on financing if the appraisal lists the property as 'rural' (has to do with what they perceive as the availability of future tenants).Watertown, NY - It probably is as good as you believe, but the lending licensing is pretty tricky up there, so its just  bit more difficult to find lenders that operate up there.

While I have managers handling the daily operations, I still oversee everything remotely.

They aren't the actual bank so need to upcharge these fees and hoping in volume they can make enough to continue operating. 

As Charlie Monger once said: our operating assumption is that the USD is going towards zero. 

Assuming a 40% expense ratio, the net operating income at the current income level would be around $19,440 annually and $28,800 after renovations.At a $360,000 asking price, the cap rate based on current NOI would be 5.4%, which is low for a park with park-owned homes and required renovations.

Helped my clients partner up and close on the property, then signed a net lease with a SL operator.

We operate in the DFW, San Antonio, and Houston markets, helping investors grow their portfolios with turnkey LTR properties.

Prices a few years ago were based on expectations of (in addition to interest rates staying low): - Then current operating cost assumptions (like insurance cost expectations being flat)- A seeming disregard for record levels of new inventory / supply hitting the market- Extremely high inbound migration expectations which are likely to not be met, due to both natural disasters and the boomerang effect when people from California or the Northeast move to the American South and hate every minute of the humidity, the large and relentless swarm of insects, and the occasional hurricane. 

I’m a long term rental guy, so make less than an Airbnb type operation on cash-flow .