Purchase price: $120,000 Cash invested: $30,000 Successfully bought and renovated a single family home in booming East Ridge TN, just next to the beautiful grounds of Camp Jordan park.

And are there any shared utilities, any grounds costs?

hello there,i have a very modest experience (2years) in real estate and wholesaling .i would like to take on virtual wholesaling but the first thing that bugged me is the runners. so my question is essentialy about them .i understand the fact that they can do ground work but what about signing the contract ( initially with the seller and then both the seller and buyer) how do you make sure that runner is running off with your deal; i'm sure there is something obvious and big i'm misssing so please enlighten me.thanks for all.

Ideally, I would like to purchase a duplex or MF, live in one unit and rent the other(s) out.But then I had the idea, that since I'm already applying for a loan, why NOT purchase some affordable land and develop my own MF (Duplex or 4-plex) from the ground up!?

The project is going to hit the ground running.

We exchanged 5+ counters before ultimately landing on a middle ground appx 15% below list price.

Either way it may be grounds to rescind the sale (but don't take my word for it, talk to a lawyer).

Out of state investing can be more complicated if you don't have "boots on the ground" I would take the time to connect with a contractor in the area you can trust to do the work and give you an idea of what the rehab will cost.

If you provide the money and deal analysis, while they are boots on the ground and knowledge of the area?

There are so many items you need to check on a mobile home park in due diligence and we wrote a course around it.Here is a short list of the most "deal-killing" items:1) Test ad.2) Certificate of Zoning from the city or county.3) Phase I environmental report.4) Review of last 3 years of P&L (and tax returns if available).5) Forward forecasting budget.6) Rent roll and payment history.7) Review of the water, sewer and electric systems.8) Size of each lot.9) Confirmation of which homes are occupied and which are vacant.10) Rent comps on all competing mobile home parks.11) Study of the metro market.12) Survey and title.Mobile home parks are much more complicated than they look.