It has been profitable and growing since day one and has very little need for working capital loans, equipment loans, etc.  

The ski areas west of Denver have been breaking out the snow-making equipment.

The 500 manufactured homes surround a popular, well-equipped clubhouse, a 3-par golf course, three pools, each with a jacuzzi, bocce ball, tennis and pickle ball courts, dog park, greenbelts, three social clubs, and a secured RV parking area.  

It is good in a sense, I less worry about fire safety and it saved me about $8000-10000 to add full equipped kitchen and laundry on site.I have 1 bedroom in my basement, and for the entire basement, I have an independent entrance and a stair goes to upstairs.

I expect that furnishing and equipping 5 living rooms, 5 kitchens, 9 bedrooms, and 7 bathrooms, all at one go, will be a challenge.

But on that note, if i can still improve the property in some ways such as adding vending machines, curb appeal, cutting expenses, etc. then i should have no issues with an exit plan and generating cash flow from a property that i purchase at 90+% of the value along with protecting my investors money.You make a good point about the local area in which i'm trying to invest.

So if your repairs/makeready are to be $400k or less, you will want to be at a max acquisition price of $775k.I arrived at this figure by doing the following:$460 X 80 doors X 12 months = $441,600 less 60% expenses = $176k NOI I would want a return of at least 15% for this so a 15 cap would value this at $1.175M, then I also assumed $5k per door for repairs (typical makeready costs are $2500-$3k per door + building/equipment repairs and common area repairs and upgrades.

It looks like I might be facing eviction of 2 tenants right off the bat, which would drop occupancy down to 33%, at which point it would flow cash-negative.The units are completely renovated with all new appliances and HVAC equipment, and fully occupied the property has a healthy CAP rate, so this would be a great deal with some redirection.

(Mechanics, Millwrights, Machinists, Heavy Equipment Operators, Welders, Truck Drivers)

Now the students have their pick of places to live as nicely equipped as most $1M homes in Toronto!