Assuming a 40% expense ratio, the net operating income at the current income level would be around $19,440 annually and $28,800 after renovations.At a $360,000 asking price, the cap rate based on current NOI would be 5.4%, which is low for a park with park-owned homes and required renovations.

Thanks all I never buy a property based on it being tax benefits.

Most hard money lenders base their terms on the deal’s equity and your experience, so with a solid flip track record like yours, you should be able to find better leverage — especially if the deal has a strong ARV.What's the ARV on the property?

Send as many letters as you want; many will not pay any attention to your pleas.How about instituting a RUBS based on square footage? 

If you want to buy  STR or MTR, i recommend buying next to hospitals there or near strong economic bases.

View report*This link comes directly from our calculators, based on information input by the member who posted. 

The DSCR loan would allow you to qualify based on the rent you are collecting and get up to 75% of the value (175 x 0.75 = 131.25k, minus 20k payoff and closing costs.You could get a line of credit or a bridge loan against it to borrow money, but it would be higher interest.

Great community to bounce ideas off of as I build my knowledge base.  

Is the 25% from LPs realistic based on today's market?

All Texas based.