Now with the increasing popularity of them, you can add one zero to both of those numbers and do very well for yourself.

Hi Mark, To add on, this is most likely a scam. 

I use a state compliant lease, with a couple of add-on, unit specific policies and make sure I include all of the same attachments as the Zillow one, like the lead disclosure, City required depreciation table, etc. 

Plus in our area, for a $250,000 house, they want between $1840 and $1940 per month, plus they add on extra fees, their initial closing costs, a minimum of $2500 in "maintenance repairs" and charge your for any repairs that were made while you were living there.  

@Kiersten Vance noted on the rents, i see some easy cheap facelifts that i can do ASAP and i am aiming towards doing a 2br add on in near future.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

Tell them the current rent and then tell them the add-on price for a washer/dryer. 

But we would probably have to add one more purchase of an SFR section 8 at $1000 rent and purchase price of $45K to help cover the monthly 8% PM ($900) Tax ($1000) and Minor Cap Ex ($500). 

For example, in planning your rental units add ONLY what is needed to comply with HUD requirements.

I think that if I invest $5000 and I make $400 a month, with that same $5000 I'd be lucky to make $5 interest in one year in a bank so if you can take that same $5000 and make $400 a month, that is fantastic.So you are in what I call, the information gathering stage, you need to find your 3 or so parks, find out the costs of buying a unit, add on repairs, then do the math and see if you make at least $200 a month if not more.Good Luck to you,