Oh and their late fee paid for this.

So, to figure out your maximum allowable offer (MAO) for the land you would back it out:ARV-Construction costs-soft costs-required profit-wholesaler fee=MAO$300,000-$150,000-$36,000-$36,000-$10,000=$68,000 is your MAOObviously there are a lot of variables here and they will be much different in your market than here in Boston but you get the idea.  

The due date is the 1st, but on their website, it says that there's only a late fee if I pay on the 16th or after.

The terribly underestimate the rehab cost and severely overestimate the ARV, and most frequently miss associated costs such as double closing, financing fees, escrow costs etc.

Here are some rough numbers for my expenses so far:Purchase price: $1+$25 recording feeBack taxes: $2300Legal fees: $3000Rehab estimate: $5000Tax assessed value is $66k.  

I give one warning and then impose the late fee or give the lease violation letter.

It really is a hidden gem in the midwest and there is a lot of opportunity there. 

No membership fees to attend any Hobby Millionaire meeting

I've noticed that for the most part higher price = better quality like anything  We were also looking at a Condo that is significantly less and decent condition (don't really want HOA Fees but the rent could cover payment and HOA) @ 70K, but we could only rent out a 1 Bed/Bath.  

I am looking at a mobile home park in CT with the following details:- 18 spaces fully rented for $455 / month (received as an HOA - owner does not own the mobile homes but rents the spaces and includes utilities as part of the $455 fee)- Separate unit on the property:- 3 offices rent for $400 each / month (currently rented)- 1 apt bedroom for $800 / month (currently rented)- A storgage shed that gets $1400 a yearTotal Annual Income = $122,400Total Annual Expenses = $92,701They are asking $1.2M for this property, and I am new to this type of investment.