I have a contractor (who doesn't know ADU law), a PM and cleaning crew lined up (I own other properties in The City, and have done VRBO in other houses, so I know those issues).

I forgot about that.I will probably want to install can lights and I know that can be a problem because then they want you to run separate lines to the electric box.

Thank you all so much for your responses.So I do plan on getting something in writing for what the contractor should be doing in detail and the time lines.

Price is $275K, he won't carry anything back45 spaces12 lot rent28 park owned (would sell those to tenants on owner financing/rent to own to get to lot rent)5 Vacantpark homes rent currently $400-425lot rent currently $125- I think market is 175-200, but not many parks around so has been hard to get numbers3 bed houses rent in nearest large(ish) city of Florence SC (30 mins away) rent for $800-900city water and sewersmall park footprint wise, just 2 roads- 1 paved 1 dirt- and all houses in the middle of it, very small footprint, tight parkArea:Marion SC, super small town, but is 10 min from super walmart, 30 min from Florence, that is the nearest MSA (technically Marion is not in one)Marion small, slowly dying town; Florence growing, solid city/townFlorence metro good growth since 2000, like 17%, low unemployment, everything looks solid there.Numbers:I am pro forma-ing it at $150/space lot rent, 40 spaces, $6K/mo, after 45% to expenses is $3,300/mo net/mo... which is $39,600 net/year14.4 cap on property pro forma12 cap on property based on 125/mo lot rent at 40 spaces.

We are in very similar positions regarding investing and goals, hope to keep in contact with you going forward and grow along the same lines.

@Douglas SpenceYes and many other inspection items such as cracked window pane, paint the outside, changing a perfectly fine toilet supply line, changing a perfectly fine p-trap, trimming trees, etc.

You are looking for an ideal answer along the lines of, "I turned off the water and reported it to the landlord right away." as compared to "It didn't bother me much and I let it go."

I'll drop em a line!

If you're in the Cherry Hill area (Tuesday 10/16) and want to hear first hand about housing in the Camden, Gloucester, and Burlington county areas... be the first in line to meet our guest speaker NJ First District Congressman Donald Norcross!

It's been on the market for a while now, and is currently listed at $1,250,000.  7,391 ft, 6 bed, 6 bath, 5 fireplaces.