The OP brings something of value to the deal....but is it enough?   

The OP said he will show a gain not a loss. 2.

The pressure coming in was actually way too high anyway.We are finishing up on our coin-op laundry in the basement.

They use the coin ops and use their "laundry alcove" for additional storage.I don't look on the coin ops as a profit center. 

12 * ($3,500 (.5)) / $252,000 = 8.33%Yeap,  But I first though the OP was saying $3,500 was the annual lot rent. 

OP, do you have a safety net beyond the 22k?

action=article&artid=1865)I don't mean to hijack the post (since the OP said they don't offer series LLCs in his home state of Colorado), but just wanted to clear that up!

Before you decide you should not think, you should know.And to your OP, no, I wouldn't buy in a flood zone but that's just me.  

I actually already referred OP to our branch 203k specialist via e-mail when the thread was made, but I like that 3 out of 3 referrals in this thread are to locals at Bay Equity Home Loans (and either way it's going to the exact same processor/underwriter/etc -- half the magic is the support staff), I'm glad we're making investors happy. :)

The places I'm looking at are all in fairly good condition, but as I mentioned in my OP, I accounted for replacing all of the big stuff once, and all of the small stuff at least twice.