That solves the variable interest rate problem and allows you to pay off the HELOC and use it for the next one.In addition, most HELOCs have very low fees.

Charge them a fee for using water or electricity IF you pay for either. 

If it is to help you fund a deal, that can be a very risky strategy.If it is to make it easier to track your expenses, almost any credit card would work but I would recommend one that doesn't charge annual fees. 

The legal and accounting fees alone would eat you up.

I factored in realtor fees at 8% so the 30k would be the total gain. 

Purchase closing costs seem a little low, did you count the bank fees for the loan?

Seems like fees are getting higher all around. 

Looking for some info as far as deal quality and things to watch out for.Price: 149,900Units: 12More info:9 lots occupied. 8 of which are park owned.3 vacant lots and room to add 4 more.Ad claims 42,000 a year in gross income currently (with the 9 occupied units).I believe that makes rent/fees income equal to $500/month per unit.Wondering what sort of stuff to be wary of when reading ads like this.

About reserving future property management fees. 

Electricity and gas varies month to month, so why would you mix that in with the rent unless they are being charged a flat fee every month.