He spent less than $10,000 total on each trailer and would sell them for an average of $40,000 by the time all the payments were made.The problem is that you really need to know the market and the product.

I see many sites with similar products priced way different.

The house itself may be more expensive to build as you're buying/building a one off house and that almost always costs more..than buying from a production builder who may build 1000s of the same floorplan and has purchasing power with suppliers to buy materials for 1000s of houses.  

What do others do during their time in-between deals to be productive? 

In all seriousness, how has anyone's experience been with this product and the banks/lenders as of lately?

Hey Jason, we have a debt service coverage ratio (DSCR) product.

Most of our properties are out of state, so we prefer to have PMs just bc we can’t address most of the issues ourselves physically there. — screen your PM carefully and we’d rather pay a little more for better PMs than some flat fee PMs.

In general, many residents are OK with lot rent being raised as long as the costs are justified and they can physically see where the money is going with the types of upgrades and improvements made to the park.

Great mass mailer product!

Lesson learned here is start working on your investor documents immediately after you've completed the bulk of the due diligence activities including financial reviews and physical inspections.