But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).

There are many others out there who would love to rent your empty unit.Also, I agree with others, install a washer/dryer if it's standard for the area. 

I recommend installing automation as one differentiator fromother properties.The furnishings must be durable and attractive to tenants.Quality photos and a property-specific website that provides extensivedetail about the property, the area, fun things to do, etc.Flexible lease terms.

you can do nothing or spend tens of thousands of dollards installing sound isolators.

When the center was first purchased there should have been a 3rd party roof company inspect the roof that did not put it on so they could give honest opinion if installed properly.If contractor incorrectly installed the roof with the warranty then that could void the manufacturers warranty.

Having over 10 years of experience in the electrical field, and correcting numerous poorly executed electrical installations, one of the biggest value adds that I have is this experience.

Rechecking orders, our window company miscounted the windows and forgot one, so we had a delay in the last window install, by 3-4 weeks.

Rechecking orders, our window company miscounted the windows and forgot one, so we had a delay in the last window install, by 3-4 weeks.

If you’re working with a tax professional ask them to do a tax projection for you with one scenario assuming you sell all 5 today and the other assuming you only sold 2 today.With the tax projection you’ll now have a good estimate of what your tax situation will look like and can make decision based on that.Maybe you can consider selling your portfolio and doing an installment sale, this won’t help on the depreciation recapture but it would help spread the gain over multiple years.Each strategy has pros and cons, if you want to rip the bandaid off an be done cold turkey (or warm turkey if you’re into that) there most likely will be a large tax hit but less headache holding them longer.

We installed an interior French drain system in the basement, because we knew that the neighborhood is prone to water intrusion.