Pros: 1) Inefficient markets; 2) less competition from investors; 3) higher cap rates; 4) less maintenance than apartments and hotels, similar to storage; 5) great flexibility to boost gross income; 6) RV sales around 500k per year and only an estimated 8,000 RV parks nationwide; 7) many sellers are willing or required to carry a note; 8) there are enough tech tools to run the business remotely (with employees on site).

For instance for any closing costs that cannot be rolled into the loan (e.g. appraisal), for rehabbing until the first draw, for loan carry costs until the property is stabilized (HMLs are not cheap) and of course reserves for a thousand things that might go pear shaped.Best of luck in your BRRRR empire. 

Beachside investments are going to be more expensive to acquire and higher carrying costs (plus if your tenants are subject to mandatory evacuation how will you reimburse them, under what terms, etc.).

@Derrick Umphlett you should call 5-10 local brokers so you can get the best quotes from various carries.

It will carry forward to the next year when you have passive income to utilize the passive loss against. 

i am looking at possibly trying to finance a deal with some seller carry back (2nd position note).initial thoughts are:seller carrying 20% of the purchase price (39,000)at 6% interest with interest only payments for 5 years, then a balloon to pay off the 2nd position note.comes out $195 a monthdoes this sound like a typical structure for seller carry back?

I'm not a lawyer (do contact one), but if I owned a home I would either not hire a tenant at all, or pay them hourly and NOT keep them "on call" or anything else.Discounted rent as wages (think "company store") carries significant recordkeeping requirements, and yes there are people like me who are well aware of them and have lawyers ready to educate landlords who disagree with us, and their money is no object.

Total monthly carrying cost for the property is about $1,700.The gentleman would like to move his young daughter to a better school in a year or two.

Instead of having a vacancy and being out 100% income until you fill it, your other properties would be carrying the weight of the vacancy all while your tenants pay down your loans for you.

We structured a purchase money mortgage (Seller-carried loan)