What I can tell you for certain is my first deal was like jumping into the water.

Do you feel comfortable buying a house that may have extensive water damage/mold?

Originally posted by @James Wise  If the commission thinks that you used your "superior" knowledge over a "regular" citizen to steal equity you can end up in hot water.

If someone wants to share their opinions on ways to narrow down / categorize / filter the parcel list using public data sources, I'd be happy to share my thoughts on the technical feasibility.

The comps are out there to support coming close to the ARV that you are advertising if you look at just the lot size and square foot of the home, but all of those homes are superior in that they're newer construction with end-buyer-desired floor plans, have barns or extra garages, and some are even water front.  

They should be valued separately from the park as a whole to keep your numbers straight.5 - What is the water/gas/electric/sewer situation?

The only thing owner pays for is water.  

The old laws on the books, if enforced, were sufficient IMO.I guess the gov't wants all of the hundreds of thousands of people living in "Lonnie deal" homes to instead just rent their homes and deal with the cut-off water, the no air-conditioning repair, the roach and vermin infestation, the leaking toilet, the broken dishwasher that their landlord refuses to repair while the local courts get an influx of eviction cases. 

He pays for water.   

@John Jacksonand I are good friends.He lives in Texas and has mastered lease option assignments in TX, not easy in TX.In 2002 he and I became friends, and I trained him on the basics of cooperative assignments, where you enter into a lease and an option with the seller as a principal, not as an agent but a principal.You then assign the deal for a fee of generally 3 to 5%.In the example above for $100Kthey owe $95,000If they listed for a $100K, sellers would have to pay the cost to sell, which include the following:– commissions 3 to 6%– closing costs 2%– sellers concessions 3 to 6%– vacancy costs we have to pay the PITI while is being sold, let’s say $1000×4 months, and this includes electric , heat, watering lawns, garbge, and so forth– spruce up costs, such as painting a wall or replacing a carpet, or fixing a fence.Many sellers don’t have a lot of cash in the bank, and they don’t want to get more debt on a credit card fix up their house and they can sell it.So this particular seller would probably pay 10% to 15% of the value of the property to sell with an agent quickly.