Thats historically correct but who knows if that will be true.You can argue some of the numbers maybe should be adjusted a bit here or there.

A lot of reasons is correct as Brian says.

Zac, Sandy Blanton is correct.

The land of a vacant mobile home pad is worth $0.The 60x (off city utilities) and 70x (on city utilities) multipliers of monthly rent are correct.The correct way to value a MHP is the lot rent multiple, plus the FMV for the individual mobile homes (not a multiple of their rent). 1970s 'beater' MHs might be worth $1,000 - $2,000. 2000-and-newer MHs might be worth $20,000 - $25,000.

You may want to contact your bank and find out about HARP , it's a govt program that if I recall correctly can eliminate the upside down amount on the mortgage .

But what I describe will give you the correct result and can be easily set up in Excel.

Long as you do everything correctly you are looking at a month to month and a half, 2 months max!!

Ben Leybovich, am I correct in this, or were you referring to something different?

It comes right off of the freddiemac and fanniemae websites I think it page 5 of freddies, fannies , i just use this handout attached belowhttp://www.freddiemac.com/singlefamily/service/docs/Short_Sale_Fact_Sheet_Pub_908.pdfhttp://www.realtor.org/sites/default/files/handouts-and-brochures/2009/fannie-mae-confirms-short-sales-commissions-policy-2009-02.pdfMaybe the term i used, illegal, was not the correct choice.

Even though I couldn't rent it out in my first month I am actually excited with everything I am learning about figuring out correct rental price, marketing, leases, rental applications, screenings and just in general everything about being a landlord (though I am not yet one!).