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.

kept using people who don't do real estate to do my taxes, and also they had horrible communication skills, I don't trust people who only see u as money.

Now, I’m ready to put those skills to work in real estate, building my own portfolio here in the U.S. and helping others around the world do the same.I’m particularly interested in BRRRR strategies and rentals, especially opportunities that appeal to international investors looking to invest in U.S. cities. 

And you can do it with little cash, 5% down conventional is better than 3.5% FHA.House hacking also gives you a chance to cut your teeth in all major skills: analyzing deals, buying process, financing, working with contractors, advertising for rent, background checks, property management.

It should be pretty accurate - high level data sites are not always going to be perfect, but should always be directionally correct and AirDNA has a pretty strong track record. 

Hi Aj, If you are brokering this yourself, I would ask for the lender's rate sheet and look at the loan level pricing adjustments.

In that they will detail the scales they use, including at which level of renovation it's possible to get things "reset" so it is appraised as if it is a new built property.

The answer to this will come down to comfort level, funds available, and strategy you are looking to implement. 

Quote from @Riaan Knoetze: @Mike Lambert @Rui Dias Costa,Can you maybe share a high-level list of the proposed AL changes?

I have extended family in MN, which is a plus and something I’m factoring in as well.I’ve heard from friends in Iowa that MN winters are on another level, which will definitely take some getting used to.