Details:- 19 occupied spaces, currently grossing ~$6,900/mo- 9.5 acres with enough septics and wells (and approval from the county) to have a total of 44 pads!

Usually you will pay 20-35% of gross income. 

This is out of 80K a month gross profit.  

We calculate rent plus all debt payments as a percentage of gross monthlyincome.Our underwriters strive to analyze and balance all the information above to determine the statistical likelihoodof a tenant paying their rent on time.ApprovalOnce an applicant is approved, we require a nonrefundable Holding Fee to make sure they are serious and don’tchange their minds.

Out of curiosity how much gross do you make over the landlord's rent arbitraging the property like this?

Similar to a 'high gross weight' vehicle deduction.

So each unit is grossing $1250, and netting $300.  

FinancingTo calculate how much you can afford for a property, the general rule of thumb is 30% of your gross monthly income on home related expenses.

Below are the key data points:- Gross Rental Income: $118K (I received the rent roll list from agent)- Effective Gross Income: $112K (I'm assuming a 5% vacancy factor)- NOI: $56K (I'm assuming 50% Operating Expenses - inclusive of 10% property mgmt costs, repairs & maintenance and CapEx reserves)- Recommended PP: $623K (Market CAP rate is at ~8%; I used 9% because I want the Cash on Cash return to be 10%+ with a 30% DP at 7.2% interest rate and 30 yrs term)- The asking price is $1.25M.

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.