I can't imagine the bank wants to hold this property, or that anyone else is willing to take a gamble for much higher then I am willing to go with all the unknowns attached to the home. 

I guess the thought of unknowns (drop in rent price, vacancy, etc) scare me a bit.

@Jerry Padilla   They started in Earnest when Warren Buffet came out with his famous quote" (If I could buy SFR homes in the US I would buy 300,000 of them)"Blackstone has bought a lot of them I think in the 30 to 40 thousand door range.We had a group of 50 homes we owned in Atlanta and we sold to a small unknown ( at least to me) Hedge fund out of Carmel IN. 18 months ago...

@Ray Martzloff , funny you should post this question, because I just posted a thread about a previously unknown/undisclosed underground oil tank that was found this morning during my formal inspection on an REO I have under contract. 

I've had many cases where its' cheaper to end a relationship with a large client that we can't come to an understanding on these things than it is to take their money and the additional unknown risk. someone mentioned to break the checks up.

If you don't want the excitement of the unknown or what could happen then note investing may not be for you. 

Condition though unknown so how that compares is an unknown.My financing would be @ 25% down 30 yr @ 5%.Taxes: $1500 yr (will raise when purchased as properties are reassessed each year) currently no homestead or exemptionsIns: $1000 yrR&M: 4%CapX: 4% (also zeroed this out but for conservative left it in to see worse case)PM: 10% (mo on gross)Landlord License: $204 (yr)Various scenarios (all include 4% for CapX and R&M):How have others adjusted for CapX when systems are newer?

NO host should be told They should be paid at some time unknown and have long term guest in the home.

I would think you could estimate all the unknowns with some area market research and a few thorough inspections of the property infrastructure and MH's.

In putting together my evaluation, I have big unknowns for for required/recommended major updates (plumbing, electrical, roof, etc).As this is my first such endeavor, I'm looking guidance on how to get a sense of this.