My conclusion is a water conscious tenant would spend about $65/month in water and sewer, though I know of at least a couple of tenants I estimate were costing the park up to $165/moth. 

I think that with sharply rising property values, once you're out of SoCal, chances are good you won't get back in.  

We are borrowing 250k over 3 monthsWe just received their estimated settlement statement which seems to carry a significant amount of junk fees:Amount requested                                   250,000.00type                                                             2nd trust deedterms:                                                         no pre payment penalties after 3 monthsrate                                                             10%Points 1,75                                                4,375.00lender Underwriting                                795.00lender Admin                                            700.00lawyer fee                                                   1,000.00Escrow Fees                                                450.00title co Property Inspection Fee              75.00Notary Fee                                                  175.00Electronic Recording Fees to title co       20.00Lender Refinance Policy to Title co         1,032.00Endorsement - estimate to Title co         125.00Recording Fees to Title co                         75.00Deed of Trust Recording to title co         150.00total junk fees                                             $4597It is the first time we use a hard money lender, but to me 50% of these fees are avoidable and should be negociatedCould you guys give me your opinion about these terms and what are the fees you'd pay and wouldn't?

The first floor needs full rehab, structural issue estimated at 12K.

Sounds good Tracy, I did not make the time at NoteExpo to say hi to you so now a second chance for us both. 

I'm sure this hurts my chances since allows him to say he wasn't aware of the issue, but the bathroom is severely slanted and very noticeable.

There’s a good chance that it’s been asked and answered before.

Am generally not a fan of inheriting tenants and if I do, I prefer that my lease be implemented, but clearl y that is not always realistic.Thank you though for this suggestion and I am going to try to see if working it from your suggested angle will work here in Colorado.In the end, I want to set up a lease that does not have holes, that an attorney, God forbid we ever have to evict (though these tenants do not seem like the type to cause any issues and I generally am a good landlord and stay away as long as you are following policy, so thus having a detailed lease that covers most all and then just backing off.My inspections are generally once a year, outside of the move-in, move out.I also stay very engaged in the running of my property, thus self-managing as in the end, I strive to provide a place I would enjoy living and I actually live on one of my properties.Long story short, don’t care for the very vague lease that the current property management company has running.Additionally I have little confidence in the way they were managing the property.The property has so much potential but has clear signs of neglect and I intend to change that as I never simply abandon my properties.On the question of current lease, I have combed through it repeatedly and do not see any mention of what happens at lease expiration only what happens when tenants are seeking to terminate their lease, “30-day written notice required”.No stipulation on what is required of landlord at end of lease and/or automatic renewal, both items that I cover in my lease and another reason, why am not a big fan of the existing lease.Leaves out a lot.I prefer having systems in place where there is little chance of misunderstanding, so thus the nerves on this one, but I will get through, thanks to you all for all your great advice!

So as a rough estimate, it cash flows $600/month.

Sometimes the right decision is to angle the punt to the sideline and not give them a chance of a return.