Can I then instantly turn around and barrow against the equity in that new purchase to buy other properties?

In August of 1975 his pet rock was introduced at a gift show and this totally insane ideal exploded to the point that he sold A million rocks for $3.95 apiece in just a few months, and Gary Dahl had become an instant millionaire in just a matter of months, not years, less than 6 months!

We find they spend the money very quickly and will come sniffing around and settle for a much smaller ballance 24 or 36 months later..... then bam instant cash flow happy subject tooJim 

@Steven Anderson, go to https://www.biggerpockets.com/alerts to check the alerts you receive, and the method you receive them.If that looks good, go to https://www.biggerpockets.com/settings/notificatio... to double check that you have the correct frequency set up - instant, daily or weekly.

I plan to split the instant equity with the sellers 50-50.  

The instant that SFH is turned into a rental property the tax rate jumps to 2%.  

This one has a MUD at the southern border of the property I am trying to see if will allow a water / sewer tap sometime in the future or for redundancy / emergency purposes.In Texas and many other states you can pass along the submetered (or allocated) costs of private utilities to cover the cost of the service - the risk is really about the capital costs (hence diligence), and less about run & maintain if you're doing that properly.My point to all this nonsense is that you're already taking on additional risk by evaluating a smaller park, you might as well keep private utilities on the table if they're in good shape, you can get comfortable with them, and use it as a negotiation point for instant equity / further upside.But I can see from your story @Paul Stout that the existing septic there looked like a big problem, and for a small Park could make the entire economics go sideways.

Then I finally scored a good deal which resulted in instant equity/profit! 

Out of that 100k equity you will be able to borrow probably 70, so 500k may be pushing it unless you have more money or you are going to live there and qualify for an FHA loan at 3.5% down. you could safely get a place for 300,000 / 20% down. using equity to purchase more income producing property is the way to make money without using your own, that instant equity was a great buy.

So if you were to go on today and see an average house for half the price you'd expect, you would instantly recognize the opportunity.