The USA has very friendly tax laws for property owners but they quickly swing against you if you decide it's time to exit the investment, passing it on to heirs is the way to create that generational wealth so once you commit to it then its a commitment for life in my opinion.

They rode the wave and built wealth, so they are not interested in owner financing or any other headache.

Today, because of inflation, a $250,000 or $500,000 gains of much more than $250,000 or $500,000 are not uncommon, so many people go over, especially in higher-priced markets.”Take the Tests to See if You Qualify for ExclusionsTo qualify for the exclusions, you must satisfy tests that you’ve lived in your house for at least two of the last five years and have owned it for at least two of the last five years, says Jack McGuff IV, owner of McGuff Financial, based in Pearland, Texas.

. : $2,347-Paint, all new doors, plumbing fixtures, drywall work, garbage disposal, carpet, bathtub: $3,934-Labor: $7,976The previous owner did not do any updates to this unit for the last 25 years!

About a 55% owner occupied ratio.

It got more hectic.The properties were listed alphabetically by owner, so sadly for me, the one I really really really wanted was second on the list. 

Given the above current owner is in the red every month $350 and is asking $475,000 for the park.If I am mistaken on any of these assumptions please let me know as my comments are based on these assumptions.From what I am seeing the seller is way out of whack with their asking price. 

You don't have any cash flow, you have reimbursed owner funds received from rent in the amount of $208.75, you basically prepaid the rent for the tenant at closing and they are paying you back in monthly installments until all of your cash is out of the deal.I showed him he doesn't have true cash flow until year 7 on the deal when he gets his $18,800 in cash out of the deal (down payment, closing cost, etc). 

If you're going to act as Owner/Builder, you had better be really knowlegable, and you already said you are not, right?

The reason is since I am the owner of the LLC, it's income is reported in my personal taxes.