The homes are between the 70's and 80's and yes, they are a little "weathered" my hope is to shed those from POH to RTO as soon as possible so I won't have to fit the bill on the maintenance and liability.

But if you can maintain a charge and payoff routine then your credit score will definitely benefit from that type of account!

I agree with Donald, this isn't a terribly complicated fix and if you have the time it will allow you to learn a bit of maintenance as well as check in on the tenants.If you YouTube search for this fix, I'm sure you will find it. 

Hello People,I am looking at putting a MHP under contract and would like to have some advise on how to value it correctly; the details to hand are s followsa) 34 unit MHP (15 of them are POH ) asking $350Kb) Total Gross income from lot rentals $5700c) Monthly expenses (onsite manager/maintenance $1200, property taxes $50, supplies/misc $150) - I feel the expense ratio is way to littled) tenants pay for all their utilitiesare there any other expense line items that I need to look at or ask forAlso can the experienced MHP investors  please advise on how to value this property

So my priorities are:No yard needed & won't have time for the maintenance, so this probably pushes me toward townhouse/condo2-3 Bedrooms for when wife and kids do visitEither in nice shape, or re-habbable to be in nice shapeCloser to Great Northern Mall the better - I'll be in town each week only to work - and not to do anything else.

The only person who lives there is the maintenance guy for all of the properties for this owner.

Here is my pros/cons list:Pros: High ROI (12-15% cap rate), high demand for housing, low unemployment, depreciated/buyers market Cons: Buildings are typically over 100+ years old, lower income tenants, newer apartment projects beginning near Nebraska University, not great outlook for properties to appreciate in value-Will maintenance be an absolute nightmare?  

I've looked up the RCW's regarding right of entry but I can't find specific rules about coming onto the property to do outdoor maintenance.

There is no guarantee that the next tenants will be better or get along better.Examples:Operation, Maintenance, Storage, Alterations to Premises: On a continuing basis, tenant agrees to: Keep premises in a clean, neat, and sanitary condition; no parking, storage, or accumulation of debris on lawn or yard.Not store non-operating vehicles, nor boats, RV’s, motor cycles, trailers, firearms, equipment, tools, hazardous materials, liquids, paints, fuels/oils or chemicals on premises without landlord/agent approval; no waterbeds

Marc,  Our lease states we cans show the property during the notice interval, and access by the landlord is authorized for showings and inspections.The first step is to visit the property to "preview" it for the marketing, and you can note any big issues that may delay occupancy, and even stress to the residents what they could be docked for.I always tell the residents to protect their valuables because its hard to track other people's children during showings, and the more they cooperate and the faster the house leases, the less time they have to tolerate showings.I've had perfect houses occupied the next day.I've had disasters that need  six weeks to prepare.With this effort and a mid-lease maintenance inspection, there are fewer surprises.