You don't have any expenses (utilities, trash, snow, lawn care, etc) included in your analysis.

Your alternative is losing stacks of those Benjamins to continued lost rent, paying attorneys and the court/administrative costs.Messing with the utilities in the dead of winter in Chicago will only put you on the wrong side of the law.

I'm looking to utilize my knowledge as an agent, as well as my degree in Accounting, to develop a highly successful and profitable business.My overall goal is to purchase single family homes and 2-5 unit buildings, and rent them out.

Even if it is paid off, you still have taxes, insurance, utilities, lawn care, etc.

It is a mobile home park, with 48 lots (leased for $150.00), no park owned homes, and pays for their own utilities, 44 lots occupied.All Annually These expenses are from the park, Real estate taxes: $2593.50Outdoor lighting: $672Liability Insurance: $500Lawn: $720NOI:The gross NOI is $79,200I Would Add Or Change To The Following Expenses, Such As:Management: $ 3,168Other: $ 300Lawn: $ 1500Insurance: $ 1000Travel: $ 800Loan from bank:Interest from bank: 6.5%15 years amortizationLoan for down payment:Interest for investors: 8%Questions:It seems every park I run into there is no money left after I pay back the bank and investors.

Set backs, amount of lot utilized, bulk planes, and the list goes on.

So you're in the right place if you utilize it correctly!

I own this thing free and clear, and my property taxes & utilities are always paid current.What if I decided to:a) Stop paying my HOA fees and never pay them againb) Fall out of compliance with the HOA restrictions in some other way (stop mowing the lawn, let my house fall apart, some other obnoxious violation).What kind of consequences would I have to deal with from the HOA?

Just give me the rent per unit and unit mix that make up total units and what utilities the landlord pays.

I see this place costing you about $750 + utilities at this price.I assumed:5% downfull askingself managedtenant pays all of their utilitiesExpenses as I see them:Mortgage Rate 5.00%Length of Mortgage in years 30Monthly Mortgage payment $1,121.45Taxes $373.17Sewer and Water $-Trash $-Heat/Utilities $-HOA $-Cap Ex and Ops $150.00Insurance $125.00Mgmt Fee $-Vacancy $88.00Total Expenses $1,857.61 + your sides utilities