The PM is entitled to be paid for services, however those terms are worked out (first month's rent, ongoing percentage, whatever) but they have no ownership rights in the property whatsoever and you can only have a legal contract in the US when something of owned value is exchanged by either side (in this case, the property owner and the tenant).

Hi Jeri,I don't want to sound negative but as I understand things you are purchasing a park that has 0 pads that are producing any lot rent whatsoever.  

I am from Arizona originally and have no network whatsoever here in California, but I want to change that.

Besides the fact that it was a perfect setup, 28 years old with no cosmetic updates whatsoever & damage plus full windows & major foundation job.

I cut my teeth litigating insurance companies for refusing claims and have been wary ever since.

Basically, the rule states that for a typical rental, over the long-term, the expenses (including rent loss and capital items) will be somewhere in the vicinity of 50% of the gross market rents.In other words, it's directly related to your rental income and your expenses, and has nothing whatsoever to do with your mortgage payment.Many investors want to see that using the 50% Rule and theoretically getting 100% LTV financing against the property, that the property still cash flows.What is your major concern here?

Account Closed30-yr amortizations are like hen's teeth in Canada, so my experience with them is limited to one property. 20 to 25-yr amortization is the norm here w/ a mortgage term <=5 years.That said, if you frame your perspective as your tenants are paying all that mortgage interest to the bank, then taking the longer amortization results in you having greater cash flow now and the bank making more money over the long term ... all compliments of your tenants.

The negative is that its costly and if you're just cutting your teeth handling leads then you might look to cheaper marketing to get some practice.

The source of our data is a division of First American Title called Core Logic or RealQuest (we have no affiliation with them whatsoever).They are the industry standard for real estate mailer data for all types of real estate, in my opinion.

They do not require any floor time whatsoever either.The cons; 70/30 split, but I noticed that's kind of the average split in my area.