If Trevor - or any other investors or business person for that matter - learns their craft and learns how to earn 15% or 20% on their money as a lender or partner and learns how to make a 50% return on his money by fixing and retailing a property and learns how to take a portion of his dollars and turn that into a passive income stream of 8%, 10%, 12% before he levers it - then that investor will know how to make their money back should they lose it all on the wrong gamble.Until then, until someone has no fear of building that nest egg again, I would keep building it and hold off on acquiring assets.So what kind of reserves would an investor need?  

My goal is to go travel and end this constant stream of mail and paper.

They report the income stream and summarize it into a cap rate.

If the property has positive cash flow I would be looking to invest the cash in something else that can create a cash flow stream.

If you don't know what the market is paying for an income stream how would you know if you are overpaying or not?

On the face of it sellers usually underestimate repairs so I am betting more than 10k in repairs.The seller is probably wanting to get what they have out of the purchase they made and then they have original money back plus the income stream on the new loan.

Late fees, residual fees or the income stream received?

Their exit is to maintain an income stream after the property is sold.  

This could attract more visitors and offer more opportunities for revenue streams, such as events or activities.It may be in your best interest to research local regulations and restrictions for RV parks and campgrounds.

I get a steady stream of investment opportunities just from being on the mailing list.