So buying the right location will become increasingly important here to protect you in the long-termFood for thought.

I recently came across 1 acre asking for 314k in a very good residential and growing location, so the current owner has added 4 manufactured homes with 4 electrical meters, 4 septic tanks and only 1 water meter for all 4 homes, the homes are sitting on partial slab and partial pier & beam, he also added 2 storage sheds approx. 380sqft with the intention to make them ADUs they are still only the shell so I would have to get those ready to live in, so currently the 4 manufactured homes are being rented and bringing in 2800k a month, 3 of the homes are needing some TLC which could increment rents and possibly get me at 3600k a month, also being a 1ac lot this still leaves about 12,000sqft of raw land where you could build etc.So that is on the good side now the things I did not like so much, the lay out is poorly executed to where it makes it looked crammed up and not professional but it could be fixed.Another is that in reality there is only 4 livable units so that qualifies under a conventional loan but since they're are 6 units on the property the banks are wanting to take it as a commercial so we would have to move out the 2 storage sheds out in order to close as conventional.Another concern, technically you are only allowed to have one manufactured house or single wide in your property according to what I know but I know it could change according to zoning which I will investigate, so my question is has all this been accounted for and if so how can I verify it so it wont leave me in a bind further down the road, I currently asked my agent for the appraisal of the property to see if that might verify.Any recommendations?

AND just because you have experience and a “good deal” doesn’t mean you will be successful trying to syndicate the deal.The first criteria is does the sponsor have the general knowledge and experience in real estate, and the specific knowledge and experience in the property type/location to give the project the best shot at success?  

Make sure you know the rules in the state where the property is located.

Deal 2: Duplex (older home that needs TLC in good location)Purchase price: 120k, Rehab 40k, Total all in: 180kExpected Rent: $2,400/month to $2,700/monthDeal 3: 5 Plex (is that even a word?

Is it fairly priced for the size, location, quality, and other factors?

Do you remember the name and location of the senior complex you toured?

Property Location: Where will you lend?

For flips, calculate the after-repair value (ARV) and subtract purchase, rehab, holding, and selling costs.Pay attention to location, rental demand, and the property’s condition.

We attempted this in one location and were rejected as solar was a secondary use and they would not allow it to be a primary use because of NIMBY even though it has no impact on the area