The thing is this property was used for a grow house.. yup.

I've bought a few in the past and remember there was a cause specifically stating that.Why not just double close using transactional funding? 

Other than remembering your "Why?"

Pick the right one that will meet your needs and you won't out grow.  

I not quite sure you plan with house hacking, are you planning to grow and do it again? 

Price is $275K, he won't carry anything back45 spaces12 lot rent28 park owned (would sell those to tenants on owner financing/rent to own to get to lot rent)5 Vacantpark homes rent currently $400-425lot rent currently $125- I think market is 175-200, but not many parks around so has been hard to get numbers3 bed houses rent in nearest large(ish) city of Florence SC (30 mins away) rent for $800-900city water and sewersmall park footprint wise, just 2 roads- 1 paved 1 dirt- and all houses in the middle of it, very small footprint, tight parkArea:Marion SC, super small town, but is 10 min from super walmart, 30 min from Florence, that is the nearest MSA (technically Marion is not in one)Marion small, slowly dying town; Florence growing, solid city/townFlorence metro good growth since 2000, like 17%, low unemployment, everything looks solid there.Numbers:I am pro forma-ing it at $150/space lot rent, 40 spaces, $6K/mo, after 45% to expenses is $3,300/mo net/mo... which is $39,600 net/year14.4 cap on property pro forma12 cap on property based on 125/mo lot rent at 40 spaces.

I have never done a deal, but i am currently in the "im just ready for it now" phase..My question is, Here in the California market (stockton specifically) is getting more expensive as bay area movers are comong down here(san jose,frisco,oakland) and IKNOW we are due for a nice grow..But!

I plan to grow into several commercial rentals, probably 5-12 units each.  

It's funny how events like these can refocus and reconstruct your perspectives on a lot of things.Suddenly, I started remembering the "Rich Dad, Poor Dad" book I ready a decade ago, and how much that changed my perspective of assets at the time, yet took no action about it. 

Just remember: most negative reviews are written by problematic tenants.