I just did a turn around on one in ORegon I bought.. same thing old family owned it totally neglectedI put in all new power hauled off 6 trailers rehabbed a few more there was a home I took to studs and remodeld an apartment.. fencing utls clean up.. and I added 3 more spaces.. and I spent about 85k on this work.. so that park being that big I would think if you have to deal with 40 or 50 derelict trailers new electrical.. etc would cost far more than 200k.. just a guess. 

If value comes in at 118k for the appraisal and you pay 6,000 to payoff the mortgage and another 3,000 in closing costs then you have to outlay 9,000 today to save maybe 75 to 100 basis points over the long haul.100 basis points you might save 76 a month off the mortgage payment getting a 4.25% fixed interest rate.So if that is the case you would need about 118 months to realize the outlay of 9,000 to refi and payoff the mortgage.That is almost 10 years before you get your money back to break even.Most people move every five years.Just looking at it doesn't make sense to do it unless your existing rate was much higher than it currently is.

That's correct, I received a 3% buyer commission since I'm licensed and represented myself as the buyers agent.I toyed around with them for 3 months on the one I bought.

And with respect the guys with the Teslas, I'm more interested in financial freedom than shiny toys--to each their own!   

I am hear for the long haul.

(I hope) :roll: Keep in mind I'm not trying to build equity over the long haul but instead using the yield to build my portfolio, only renting it out short term for the tax benefits.

It hauls cargo just like diesel semi trucks.

I've toyed with the idea of getting my RE license, etc., but I'm not sure I can invest the initial few hundred dollars into classes and licensure, and then solely work for commission after that.

I just cut it off close as possible with circle saw and spliced on and supported allIts easy to dispose of bad stuff here yet,,,thats why it should be disposed now if possible and in making your floor solid.Double bagged is all required and hauled directly to landfill with appointment.

We are in it for the long haul though and are not making much in cash flow...but we are also using a property manager at this time as we live in South Carolina.