I am improving my credit, but of course, it will take time.

They would fund 100% of the acquisition and improvement costs with a line of credit on investment properties that are paid off.

Monthly Cash flow: $110.51COC ROI: 9.86%2% Rule; 0.74%I would need to find a partner on this deal to cover the additional capital I do not have.

Spreadsheet template:TOP HALF OF PAGE:Addresses of comps - price - date - bed/bath - special feature(s) of house - conditionProperties listed here with dataMedian / Mean / Lowest / Highest chartCommentaryBOTTOM HALF OF PAGE:Left side, improvements since purchase bullet points.Right side, details about how/why you got the property for less than fair market value, again bullet points. 

Or do they have to do improvements?

The thumb rules are a good place to start, but they never tell the entire story.

I live in Minnesota, and garages play a huge factor in property values (many buyers completely rule out homes without them).

I also do all of my own bookkeeping, so the accountant really just compiles everything, makes sure the appropriate rules are followed, etc.

Do taxes for new construction in regards to 1031 exchanges and the 2 year rule, start when the home is completed or when you purchase the lot and begin construction? 

They would need at least 60 days for due diligence and would want to have all utilities inspected, talk to local authorities to see if the park is operating in compliance with all state and local rules, etc.