If the management companies don' t answer your call, they probably won't answer your new tenant's call either.3.

But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).

If your at $500 per month on 87.5% occupancy, I would walk away.Do a cost to build on the Storage units. 

I recently had one property get near $50k in improvements and it cost me $2,500. if that ain't ROI I don't know what is. 

What is the likelihood of approval, and what are the time and cost implications?

You usually have a higher cost basis when you buy great property.

Purchased various sheriff auctions, short sale, low-balling, flipping, being a landlord and much more.If you are stuck, not knowing where to turn, please feel free to reach out, All the best

You are better off getting a Principal and Interest loan since you would be in the low to mid 7s at that PPP term.

@Evan T.

Minimal risk, cost, etc.