@Abi O. - Your agent should be able to provide guidance, in my state just because something is past the end of it's useful life doesn't make it part of the items we can request repairs for. 

The costs of concrete, site work, utilities, permits, licensed tradespeople, heating systems, button-up, garages/decks, etc will blow you away.

Your property could become a super-fund site right along with the gas station.To me, #1 is a minor factor, if a factor at all.

Detroit has one of the highest crime rate in US (less safe than 98% of US cities ) .Myself live in Canada, but have visit Michigan many times, for me I am looking at Warren as potential city, but still need input from others as I am also trying to decide which city is the best for investment . 

Also the pro-forma shows rents at $500/month, but Rentometer and other sites put the rent closer to $800/month.2 Questions I was hoping the BP community could help me with:1. 

For far more detailed explanation why look up "valuation of park owned homes" on google and zoom in on the mobilehomeuniversity.com site and read what Frank Rolfe has to say about this topic and you will thank me in the morning. 

Rent-O-Meter has the rent at $934 for that area.My strategy is to develop relationships with loan officers that have relationships with people that can afford a home but can't qualify through traditional means.

Hello BP,I am a 20 y/o college student at Norte Dame College in Cleveland Ohio.

O I want to use my equity to invest in another property....

There is a lot of information on BP about running the numbers on possible acquisitions.My advice is to dive into the wealth of information in the Videos section of this website.I am trying to gain more, and more knowledge and luckily my off-days just started so I will probably be on this site every second I am up for the next two days digging in deep and taking notes.