Try to get financing for 25% (or less if possible, I've never been able to get less than 25%), then you'll have 5% extra for closing and cushion. 

The other 8 are worth -0- as the cost to rehab them is probably as much as their worth.So the maximum total value of the deal, to me, would be $450,000 for the park itself, and possibly $250,000 for the POHs, for a total of $700,000, I assumed an 8.5% cap rate on the land, and the only reason I went that low was because I'm assuming that the $150 lot rent is below market and can be immediately raised (the U.S. average lot rent is around $280).With the POHs, you can re-set that lot rent to any amount you want interntally day one, so there's some cushion there.You can possibly finance the newer POHs through 21st Mortgage, so you would get those cashed out fast if the customers qualify.

If you're flipping, run the numbers with a bit of cushion in your hold period and you may get the opposite result.

I would go further and say you should have in cash 30% of purchase price. 25% down payment plus 5% for closing and cushion.

With no debt, wife, and kids, it sounds like you are able to build yourself a very comfortable cushion before you dive into the business.

The most important thing you can do when buying a house to flip is to make sure you have the numbers right and pad/cushion that timeline for work, timeline to sell, and rehab costs.

There’s no cushion for cost-overruns, softening in the market (thus a lower sales price and increased DOM), or any other unexpected hiccups that ALWAYS occur.  

This money is the cushion to fall in case something goes wrong.

I budgeted $10,000 extra as a cushion on the rehab, and it seems as though others were simply hoping nothing unforeseen came up.

The borrower and the security (the asset and docs associated with it).As a lender, you want to ensure the borrower has a performance history, can show skin in the game (some of their own capital placed into the investment), and has experience in performing on the particular investment.For the asset, you need to make sure your a LTV (loan to value) does not exceed a set amount you choose to give you “cushion” in the event the deal goes sideways and you need to take the property back.Your loan docs are also important and should include all the things you need to protect your investment such as a deed of trust (or mortgage in mortgage states), promissory note, balloon rider if the loan is not a fully amortized loan, personal guarantee rider (which is only worth something if the borrower has personal assets to go after), etc.For the asset itself, you need to know the strategy (buy and hold or fix and flip) verify the condition and amount of repairs, know the current market value and future market value after repairs, and have a plan in the event you need to take the asset to recoup your investment.