Hey Cecil, if you're anxious about getting started, I would likely recommend starting off with something more turn-key and then doing a BRRRR for your second deal once you establish your systems and get a good team in place.  

There is a growing trend of apartment owners investing in submetering systems for water as these have gotten more affordable.

I work in the technology field as a windows systems admin.

I recently had to replace my HVAC system because it was red-tagged.

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.

- Highly unlikely you'll be able to get separate water meters installed and submeter system probably too expensive for this few of units. - So, that leaves electric & gas.

Glad you are setting aside money, but if the HVAC is 20 years old, or the septic system has never been pumped, or the roof is 25 years old, etc; you will get hit with a cost before your build up enough set aside.How stable is the other tenant? 

The perfect system...  

Coos Bay - The main delay with application in this area is whether the property is on public utilities or has a septic system and private or public water source.

It just means that of the two, the better system for data purposes is Propstream.