I assume a 10% fudge factor, usually plenty for unseen and the unexpected, while a few times that wasn't enough, more often it's within 2% of the initial guesstimate.

A mobile home park will often be an external obsolescence factor to neighboring properties, it shows up in appraisals, devalued do to MH activities.

While his credit is not o hot, there is a compensating factor with you as a guarantor based on your expected income.

A couple questions for everyone on building good pro forma analysis before I get in touch with a seller.1) How do you determine a vacancy factor for a 3-4 unit property?

I wrote over a hundred policies in a week, morning to late night.

Another issue is loan costs, factor those in on 2 loans (if you can cash out with a secodary market loan) and then consider the APR.

If I am at risk in the transaction, acting as a principal is another factor.

My guess is the biggest determining factor in your search has to be location.

I just inspected a property yesterday, and got my first real look at it.Here is the information:Asking Price: $15,675On the Market: 79 DaysComparable Comps: 25-35K (I believe this to be a little low right now (The area just a few years ago was roughly 55-65K)Expected Rent: $500 to $600I did not factor in Closing Costs, but I figured a $7,000 bid offer with a contingency for inspection.Since most of my cash will be used up in the initial purchase, I plan on using the property as collateral to secure a personal loan for $12,000 at 7.5% (Not sure if this is too high) over 5 years.I assume that I got the COC correct?

Had a leisurely morning with them, my dad and I headed to Lowes and then swung by and looked at a house for sale a few blocks from some of his rental houses.