The questions that come to mind areHow would you scale this?

But, for me, it's also inspiring to hear more about people's first deals and how long it took them to scale to a larger portfolio.

Thank you for the reply jason, but modular homes are not manufactured/mobile homes.

The bank will send out their own appraiser (although it may not be a full scale appraisal depending on how big the LOC is you are looking for).

They tend to be a very different beast, and if they'd known to look for the manufacturing tags, (and they are available) they would have been informed of the gas/propane.

Then CapEx will come along and eat your lunch in the long haul since all this time you were only budgeting 10% and didn't realize that it does not scale with gross rents and when the roof goes out it costs what it costs to replace; the roof does not know nor does it care what the unit is rented for.

Multifamily, just like every other asset class, still follow the rule of "location, location, location" because that's the ONE thing you can't change about a property.Before I move on to the building class you should also recognize that classes are like grades, it's a sliding scale so between 2 classes there is gray area: ...B- -> B -> B+ -> C- -> C+...Now for the budding classification, brokers use a rule of thumb based on age because it helps average out the properties.

Could anybody point me in the right direction for a insurance quote on a manufactured home in Farmington Hills , MI

@Mike Landry, Except for the few inheritors of wealth just about everyone through history worked (you'd call it a W2 job now) for a living and built wealth by saving (spending less than they made) and slowly building their ability to invest (whether farm land in the agrarian age, manufacturing and commodities in the industrial age, or information proprietaries in the information age).  

Many times there's a pretty steep cost advantage with a national company with economies of scale vs a local attorney creating them one off.