Keep on driving past the park and don't look back.....because of the cost of private utilities, your better off buying a 13 unit apartment building, 13 single family homes, or something else.MHP's this small will not hardly make any money. 

@Steven Cruz, unless you're getting the properties via private money or seller financing then yes it's likely you'll need 20% down or even 25% in some situations.

So I have my first Partner or private lender, depending on how we want to struture it, lined up and ready to go! 

We have a flip property that we close on this Friday.ARV (by Subject To Repair Appraisal) = $440KPurchase Price = $230KRepair Estimate = $100K We have secured private money to take the property down @ 10% and no points, but this is the first time that we have used this investor and when we met him and his wife for lunch today, he asked if we would be supplying the cash for the repairs.  

As a realtor I normally advise seller not accepting private lender or no name mortgage letters.

It is a risk management tool, and we all need those.You could even structure it so that the money partner (private lender) gets first lien on the property, and here again, you would want to have one partner for one lien (maybe not required but seems easier). 

My main issue is finding private money for the down payment.

Is an equity partner similar to private lenders?  

There are now many "private" flood insurance companies competing with the Government run NFIP.

I can keep the second and third position loans in place, but would like to get the personal $30K outDoes anyone have a recommendation for a bank or private lender that will finance around $520K+ (86%LTV) on a rental???