My wife’s family has a challenging ag property issue (to complicated and off subject for this category on the forum) and I’m seeking cost tips on used Mobile Homes.

• How much for a simple but livable unit? (ignorin...

Here is your problem:15-20% profitREO need cash offers12% repair cost — RIDICULOUS ASSUMPTION Agent is not investor friendly6 months rehab time for a first rehabberCASH for skin in the gameSolve those and you should be good.

@David Calme : with regards to your question about retrading: just be clear to both the broker and the seller, that your offer price is based on some assumptions that you will need to verify during the due-diligence period, and that ability to stand behind that offer is only as strong as the information that you were able to factor into it.

That said, I'm basing this on the assumption that base employment in the town won't fall out and the rental market with it. 

Assuming the numbers all add up (what an assumption right?)

However, I think one thing would make it a lot more enjoyable to use.I usually calculate my results and then want to tweak the purchase price and/or rent assumptions - as you know, finance is rarely absolute and it can be helpful to understand the range of returns you might get based on changes to these two numbers.

Assumption is that you have a Lender, and the Lender will require it, but if that's not the case, don't be silly-- get the Insurance.   

FHA assumptions require qualification.

Other wise you may try to move forward on a deal that has no chance because you have made a bad assumption about what kind of terms you can get. 

That would be a SUB2 or Assumption with a second, or possibly a wrap mortgage.