.$200/month pad rent4 owner occupied pads rented @$2004 long term RV pads rented @$200 (these people are living there)2 park homes-need renovated.water is well. checked out good2 skeptics have been checked (I will check again during DD)I estimate value at 8x200x12x.5/.12=$80,000   (asking price $120,000)no value for the park homesQuestion is do I value the RV income the same as the mobiles? 

How do I evaluate the property for repairs, when would I contact a hard money lender, how much time should I estimate for the rehab?

After estimating maintenance expenses, If I purchase the single family, condo, or co-op It'll take me 8-9 months to save another 10k, which then can be used for the next property.

Using the estimated 50% rule, I will profit $250 a month.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Get insurance quotes, tax estimates.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Although my son is a carpenter, it takes him a while to get estimates to me as he is busy.  

The best thing you can do is reach out to other banks and get estimates from them.