I too live in Marin, and feel it is a solid long term market for apprecaition, and utilizing the power of principle reduction.When it comes to refinancing, figure out what the loan costs will be, then divide that buy the monthly savings with the new loan in order to determine how long you have to maintain that loan to break even. 

The house had the utilities turned off for the 6 years, and was filled with the original 1 owner's furniture, clothes, appliances, car and ecn food in the frig (without elctric on for 6 years). 

So all in all, the investment seems solid to me, and this is not my first rodeo, as they say.As for the risks associated with the SBLOC, I minimize those by only utilizing a portion of the LOC so that even if the market drops another, lets say 30%, the risk of margin call is slim.

In my analysis, I utilized a 40% assumption as a baseline, though I acknowledge that this may underestimate expenses for a park with the characteristics you’ve described.

Typical utility bills (which we include) are $100-300/month.  

I use this for tax and insurance which all properties have)Expenses (general business like admin/legal and by unit for repairs, trash, utilities...)EBITDA (earnings before interest/taxes/depreciation/amortization.

You can also tell her to call the utility company about the best way to save, as turning off heat and on is not efficient having to run longer blasting out cold air as opposed to leaving it set at a lower temp. :)

Quote from @Eamon Conheady: I was purchasing a multi family through an IRA LLC and was utilizing debt to finance it, requiring a non-recourse loan.

I’d love your insights on how best to utilize my LLC in this process.

I once ran across a hot tub where the customer mentioned it tingled when they were getting in it .