We stay away because we would rather bring what we like to eat everywhere we go in thermos bottles and it is like being on a romantic picnic every day vs. sitting and waiting in noisy restaurants.  

Make sure they are inspected, flow rate tested and potability tested. 

In my experience, it is great to have a specific criteria when speaking with brokers so they know exactly what you are looking for and you can pass the "eye test" as they will likely run this to see if you are a "real investor."

Hi everyone - I'm new to investing and I recently completed my real estate salesperson course, and passed the test. 

Google the Howey test for LLC memberships for determining whether an LLC interest is an investment contract under SEC rules.  

After my contractors give me a bid for the repairs, I intended to offer 250k to test the waters and see if the owner will counter me with something, and ideally we land on a number between 300k-327k.

There are no permits on the property so likely no previous testing or remediation.

I believe you must register as a rental, have it tested for lead, and if the home isn't certified lead-free, you'll be paying for testing between each tenant, so you'll need to add that expense into your calculations. 

.$505,882 in real value plus $90,000 of personal property = roughly $600,000 in value for the park as it sits.Your upside is in filling the remaining vacant lots, pushing the rent to $250+ over time, and renting the 6,000 sq. ft. building.Your greatest risk is the private water/sewer system, and the demand in a metro of only 33,000 (TEST AD ESSENTIAL).The potential value of this park is 25 lots x $250 x 12 x .6 = EBITDA $45,000 plus 3 stick builts x $600 x 12 x .6 = EBITDA $12,960 plus 1 commercial building $1,500 x 12 x .6 = $10,800 = TOTAL EBITDA OF $69,000 AT 8.5% CAP RATE = $811,764.The risk/reward scenario is decent because if you pay $600,000 and sell off $90,000 in mobile homes, you have $510,000 in deal and, assuming 25% down, you have invested $130,000 down and, if you can bring the park fully back to life, you have a profit of around $300,000 on your investment of $130,000, which is about a 2 x multiple which you should be able to harvest in less than 5 years if you work really hard and did great due diligence.

Sometimes a tech has to test your old system and then test the new system for you to get the rebate; sometimes you just have to fill in a form that lists the model numbers of the old and new equipment.