I'd love to know, from all landlords/property managers, what are your most common repairs from tenants, either because of day-to-day living, or due to neglect.

I did a rehab for investors back in 2003 with very similiar circumstances, only I was the one with no money.

the 50% rule seems to be the best circumstance; reality will probably prove expenses nearer 60%

As this property is, you have very little collateral to use to secure a loan.I also recall from your other posts that you've bought four more house under similar circumstances.

I'd suggest you let the lender know the change in your circumstances and why you are not occupying the property as planned.

I feel comfortable now moving forward loaning money under these circumstances.

At the moment, I have around $200K in liquid funds to invest and my job allows me to save another $90K or so yearly if circumstances don't change.

I'll never do it again.Under no circumstances would I sell the contract to someone that is a retail buyer.

Now, this rule is just an average and the rule (rule of thumb) needs to be adjusted for certain circumstances such as when the rents per door are under $500 or over 1,000, also varies by area, etc.Not sure if it would be accurate for a mobile home park, but by the numbers I posted, it is under your offer of $64,500 so it sounds like it may me accurate in this case.

Unless there's some extenuating circumstances, in the current market we live in, I just think you could find equally good sub2 deals out there that would require you to put up considerably less upfront.The way this deal is structured doesn't seem to make a whole lot of sense.