If nobody at the mortgage company you are using can give you a LE (Loan Estimate) form showing your estimated transaction costs for this purchase based on your intended offer price and today's interest rates, PLEASE get a new mortgage company to work with.

@Paul Sanders www. rentometer.com can you give you a rough estimate of a specific area's average rent.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

How you value a park is the lot rent ( I'm not sure what it is there ) lets just say 250 x9 (occupied lots) =2,250 a month x 12 = 27k annual gross income* estimated 50% expense ratio ( smaller parks run higher numbers and you can get a better grasp using your actual numbers) leaving about 13,500 in net income.  

You should analyze it fully, determine your own ARV, estimate repair values, and figure out the value of the deal based on your own analysis, or that of your own agent.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

A year is a crazy estimate of time, and while maybe 1% take that long,mot is not the norm.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.