There are 5 vacant spots but we have discovered the following zoning code:"Nonconforming mobile homes once removed shall be replaced within thirty (30) days of removal or forfeit nonconforming status, and if replaced shall not infringe on established setbacks, and shall meet in full the requirements of section 6-1 of this ordinance.

Thanks .1) Purchase price: $149,900 (this is the asking price, I'm pretty sure I can submit a lower   offer due to how long it's been on the market)2) Renting for: $1,725/mo (I believe there's some room for increase, the owner have not increased rent in several years and CMA $1,800 to $2,100)3) Property Taxes: $144.92/mo 4) Mortgage with 20% down @ 4% interest: $572/mo5) Other expenses (Vacancy(5%), CapEx(8%), Management(8%), Repairs(5%), Insurance, Misc(5%)): ($86+$138+$138+$86+$85+$85) = $6186) Total expenses with mortgage, tax, etc = $1,490.11 7) Monthly cash flow: $389.07.        50% rule: $289.89  the zip code of this property is 77082  So what am I doing wrong?

There's lots of updating that could be done to head down a BRRRR path in this unit, and it cashflows quite nicely at the LP...but...Property was already appraised at 10k higher than my offer, but sewer inspection showed multiple cast iron pipe and non-code stack issues that will most likely be 10-20k of work (my guess, haven't gotten formal estimate yet).  

Especially as it relates to code compliance, zoning and taxes.

However there are several exemptions under to the non qualified usage time listed: https://www.irs.gov/publications/p17/ch15.html https://www.irs.gov/pub/irs-pdf/p523.pdfThat indicate that Any other period of temporary absence (not to exceed an aggregate period of 2 years) due to change of employment, health conditions, or such other unforeseen circumstances as may be specified by the IRS does not count as non qualified use.

I have couple of questions from people who are well versed with this zip code and can offer valuable suggestions / recommendations, if any. - Is New Port Richey a nice area to invest from a buy and hold perspective?

When determining what probate cases have real estate, there is a code attached to the case.

I keep track of checks and dates received.I use a SUM function to see how much is owed, how much outstanding and total interest rate.I can color code redeemed properties a different color.It is super easy to customize. and once you set it up it automates everything but entering the data once you get a redemption check or a deed.You can copy over the tab to a new one and start a new year with all your formulas intact.

If you choose to do the renovation or remodel the basement, find out what the code is for the work including any egress windows or exits, to be done, pull the permits and do the work. or hire it out. 

IRC § 1031 even addresses properties held for fewer than two years (only the periods during which the property was held are taken into account, unless it looks as though an individual is deliberately trying to “avoid the purpose” behind the code).The safe harbor, essentially, is something like that IF…1.