Go to the county government website for the county where the property is located. 

Here are the key data points:Park info  Located in Alabama61 lots25 owner occupied homes18 park owned homes (14 currently rented; 4 currently being repaired and should be rented soon)18 vacant lotsAvg lot rent - $160 (unknown what the market rate is but it doesn't sound like there has been a rent increase in at least a year, maybe more)Avg POH rent - $400Expense ratio - seller claims 26% but I'm estimating 35% for the lots and 50% for the POH'sCity water - individually meteredSeptic - good condition (allegedly); a couple were pumped last year, none this year (no lagoon thank heavens)Seller claims gross income $130k, expenses $30k, and NOI $100kI calculated gross income of ~$135k, expenses of $60k (55% on POH and 35% on lot rentals), and NOI of $75kOther infoMom & pop seller, but park is listed with a brokerPark has been on the market for > 3 years (recent price reduction)Greater metro area stats look goodPopulation = 115kMedian home price = $105kUnemployment < 8%Household income > $40kHousing vacancy ~ 15%Closest Walmart is 7 miles awayFreeway is 1.5 miles awayNumbersMy valuation is coming out about $80k-$100k under the seller's asking priceWith conventional financing I'd be hoping for a purchase price of $500k, $100k down @ 6% over 20 years (not sure if this is plausible or not)Assuming that financing, I'm expecting net cash flow of $40k (after debt service)Upside potential is in raising rent and filling the 18 vacant lotsFollowing the same assumptions above, raising rent $50 (if the market supports it) would change NOI to ~$90k and net cash flow of just over $50kFilling the vacant lots could potentially increase gross rent up to somewhere between $150k-$200k, depending on what the appropriate occupancy rate is for the areaWithout verifying any of the above information (haven't offered anything yet so there's a lot of DD left to do), the deal seems to make sense. 

The potential issue is location.

I've lost about 8 properties so far, and while this isn't great, it's definitely in a good location with plenty of upside.  

Usually it's something to do with the place, location, etc.

@ Ryan Johnston thanks a lot , that help a lot and I am going to spend some time with any banker to collect some info.I got experience with the mortgage paperwork because I own a house in 2012 and I sold it in 2016 and I bought my other one and this one in good location and my family love it but in both houses I used FHA loans mean no down payment.Also I just got personal loan and paid off almost 60% of my debt.I can't wait till I flip my first house.Thanks

@Michael Lange I'm interested to know the location of the property you purchased.

I am in Houston, and if there are others in the area that are interested, perhaps we could meet monthly at a central location and have our own little MasterMind Group.  

@Lincoln Selk depending on location that isn't a very good deal.

Furthermore, understanding the person that you want to serve will help you determine the best location of the property within a submarket and even help you to determine the most appropriate team members.