It needs some work but is nothing that we havent dealt with before, however it is on a larger scale due to the number of units.

It all depends on the scale of the project, how many contractors you know, how fast they can get you a proposal and how long you plan to remain in the preconstruction phase.

so i had to scale my classes back this past semester. currently i have been also taking my RE agent license course and should be finished up with it in Jan.My goals in Real estate are to own approx. 40 - 50 rental units that would net about 8-10k a month preferably multifamily's.

Investing out of your area can work but the scale matters.

We have Netflix, which the kids really like, and it's only $8.I would like to scale back more, but I'm hooked on shows like Life Below Zero and Yukon Men.How much do you pay for internet only?

In other words, we've connected with many local investors for referrals on manufactured homes and return the favor when we come across leads of their niche.

We really like farming the work out to independent contractors (architects, engineers, builders, etc.) that can scale up when things get busy instead of having full-time folks.If we end up getting about twice the size we are now we'll likely need some employees to help out.

Nail it, then scale it.

On 30 years at 4% the payment (sans land) is $429.67 meaning that the rest of monthly debt cannot exceed $1,000 per month without accounting for land.If a manufactured home goes into a community with a lot rent of $275 and sells for $35,000 the total monthly obligation will be around $555 including the land assuming $5,000 down and a 20 year amortization and an APR of 10%, That does reduce the permissible outside monthly debt to a little under $1,000 a month but it also accounts for the land.Obviously all of these figures will need adjusting for the area of the country and for the goals of the community owner but the idea is clear.Thoughts?

Agree with Don that $10 MM is kind of the minimum, although I spoke with an investor today that liked our model but said he wouldn't consider an equity investment in anything less than $100 MM, and wanted to know how quickly I could scale up.