As far as experience goes I bought my first mobile home last year and have had a few repairs and replacements done such as electrical, bathroom sink, etc.. 

Daniel,have to know how the numbers break up, as Kevin was saying, did you include management, electric, gas, lawn care, leasing fees, water and sewer. if you do not hire a property manager are you taking care of managing the property yourself ?

I needed new kitchens, baths, waste and vent stacks, heating, 40 windows, new roof, floors, walls, the garage was compromised -likely demo, porch, electrical work, mold in the basement, etc.I assumed ARV $390,000Repairs: $150,000Difference $240,000 (bid at 75% of ARV-Repairs 180k)They were asking $255.  

A simple power wash and / or exterior paint job can help for some older homes too...Don't waste your money putting berber carpet in this - you won't get that back ever.

In my opinion it is best to purchase with cash, refi and buy more properties.When you purchase with cash you normally have more power to negotiate and you will defer some fees until you refi.

The boat slips are rented seasonally, paid up front, and currently generates $2,000/month (when averaged over the year).Total monthly income: $11,250 ($135,000/year)Expenses run very low, from what we can tell, listed annual expense:RE Taxes :12,000Insurance: $6,500Water + Common Electric: $3,000 (heat and hot water is paid by tenant)Maintenance + Repairs: $2,000Management: $10,000If we do 40% down ($700,000) and finance $1,050,000 @ 4% over 15 years: $93,300.Add for vacancy, misc, etc...  

It takes some effort to set-up on your own, but once you get the hang of it - it is very powerful.

With the door open, the controls appear to work as normal (power button and cycle selection knob appear functional).  

We are currently putting together our power team.  

Expense/Net SheetMonthly Income $7,070.00Monthly Expense Utility $190.00Lawn Care/Snow Removal $25.00Trash Removal $67.00Advertising $0.00 Craigslist and signage in yardInsurance $235.00Odd/End Repairs $75.00Total $592.00Yearly Annual Income $84,840.00Yearly Annual Expense $7,104.00Property 2014 Taxes $14,844.46Yearly Profit $62,891.54Unit Bedroom Bath Stove Fridge Dishwasher Microwave Washer Dryer409 #1 2 1 Y Y N N N N Y 2008 2001 2002409 #2 2 1 Y Y N N N N Y 2008 2001 2002409 #3 2 1 Y Y N N N N Y 2008 2001 2002409 #4 2 1 Y Y N N N N Y 2008 2001 2002401 3 2 Y Y Y N Y Y N 1997 1997 1997403 3 2 Y Y Y Y Y Y N 1997 1997 1997405 3 2 Y Y Y Y Y Y N 1997 1997 1997407 3 2 Y Y Y N Y Y N 1997 1997 1997Garage and Common Area Electric is paid for by Landlord *I assume this is the $190 / month utility figure listed in the monthly expenses.*$208/quarter for dumpster *I'm not sure if trash collection is this or if we have to add another $70 per month for the dumpster.