Welcome to the greatest resource you will find @Tavere Forrest  on the subject of real estate investing.Listen - PodcastsRead - Beginner's Guide, Blogs, Member BlogsQuestions - ForumsAll the best to you and your endeavours!

I honestly don't think that would be the route I would go (being a beginner and all).

I talked to a realtor and they said by me just starting out a foreclosed home would not be my best interest, my question is what would be other options for a beginner?

Fill in the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

As a beginner, if you shoot for and hit that number, chances are you will find yourself with a very attractive deal to flip to an investor.One other comment.  

The formula & the subsequent rearrangement:Capitalization Rate = Net Operating Income/Asset Cost *Now multiply both sides by Asset Cost to remove Asset Cost from right side and place it on the left side results in:(Capitalization Rate)(Asset Cost) = Net Operating Income *Now divide both sides by the Capitalization Rate to get:Asset Cost = Net Operating Income/Capitalization RateI know most people on the forum understand this, but it may help beginners unfamiliar with the formula.The problem with the property you've posted:As Joel Owens notes, the operating costs of 75,000 (17% of gross income) are completely unrealistic.

I'm trying to learn everything I can before buying my first MHP. I'm reading everything I can get my hands on including books by Jamie Smith, Lonnie Scruggs, etc. For those of you who have traveled this path before...

Steve - thanks, now i understand all elements of the numbers.Joe - I agree, however, as a beginner, I find it imperative to at least understand how the numbers help me

If the bf provides value good.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

Regardless of what percent it is, as a beginner, I'd rather plan for rain and have the sun end up shining...