Here's my breakdown:$120,000 sales price-$89,900 purchase-$900 closing costs (1% of purchase price)-$15,000 repairs-$7,200 realtor commissions when selling (6% of sales price)-$600 closing costs (.05% of sales price)=$6,400My numbers above do not take into consideration the cost of insurance or utilities (i.e. holding costs), the cost you would pay to your lender, or any overages to your repair budget. 

So all I will loose is the property taxes and home insurance and utilities I presume and a bit of upkeep. 

Many people forget to include utility bills while you own the house, closing costs, staging, etc.

- it's always good to see another Hoosier utilizing this great site!

Many lenders won't lend on vacant land, but lend once there is a foundation poured & utility hook up availability and approved building plans.

What type of furnace (gas boiler, electric, etc.)Are the utilities split?

I am sure you are already utilizing the resources BP has to offer.What kind of REI are you looking at?

No tenants no toilets can utilize the land to camp on .. or enjoy in other ways..

The simple ROI formula is profit divided by total cash out (leveraged funds excluded).This is why you can often see huge and even infinite ROI numbers when the cash outlay is minimal.Example, down payment, utilities paid, renovations costs not financed, insurance payments, and all other cash out of pocket equals your cash investment.

There are 9 Mobile Homes which are mostly 1990s, and only 4 are currently rented for a total of $2650/mo, 3 vacant,the remaining 2 need to be repaired, and the last pad is vacant. 3.4 Acres, city water (master meter), septic tank, and individual electric.The deal financing was $200k, $30k down, 6% interest, for 10 years.I know the unofficial formula is lot rent x # of units x 12 x .6(owner pays utilities) or .7(tenant pays utilities) x10 (CAP). then you add in the wholesale price of the mobile homes to get to your priceWe are planning on renting the land and home as a package deal.