Don't burn them on a bad property.

Does anyone have experience and want to discuss puting inexpensive prefab/modular homes (not mobile homes) on vacant lots?

Account Closed In my experience, once you get burned a few times as a landlord, you develop your own "deal breaker" rules that you stick with as a policy. 

You are building a plan on paper and paper can burn or blow away.

See attached Excel summary sheet.Investment Highlight89% Physically OccupiedSupply Index in a 3-mile radius of 6.8 SF/Capita, 5-mile radius of 7.7 SF/Capita, and 10-mile radius of 8.3 SF/CapitaAdditional Income generated from 4 mobile home lots and 1 mobile home (Not Verified, as thus not included in underwriting assumptions)Key Underwriting AssumptionsDown Payment 25% of Purchase PriceEstimating a CAPEX/Repairs cost of $150,000Estimating Operating Reserves of $10000Stabilized Vacancy and Concessions/loss to lease at 10%Using a cap rate of 7.23%Key Demographic DataTotal Square Footage 21,130 Supply Index: 6.3Population 3,338 1 Yr.

Build mobile home on the vacant lot I understand the cost involved for rehab the existing house.  

Just think about the worst damage a tenant can cause, such being liable for setting your rental house on fire or burning down your rental house and the neighbor's house, etc.

They've obviously been burned in the past.They also really don't value PMCs and probably think they are way smarter than us.But, why haven't they started their own PMC yet?

I look Monday through Friday at Facebook Marketplace, my MLS, KSL.com, and the Mobile Home Park Store. 

I’ve not been burned yet.