I put 20% of pay into 401k and have a couple payments totaling around $1000.

All of these things would have to be taken into account when considering if a sold comp is a comparable property

But I am unsure if the 1% rule is used in these situations.She also stated she is going to have an appraiser she knows come look at the property to find out what it is worth which could be worrisome as I am sure they do not specialize in this type of property and could really throw a wrench into the works.I know she didnt pay much for the trailers so this may be the best direction to go with finding the value.  

Some of these take months or even up to a year to get into contract.

Hey Team-I’m wanting to transfer my current property from my name into an LLC.

Is there a way I can really get into Say 20 to 40 unit building other than of course sellar financing.

I started by flipping properties here in Saint Petersburg and then transitioned into other strategies.

Hey @Raymond Pritchett - Awesome to hear that you are jumping into the Chicago wholesale game....why did you start with wholesaling and what are you using to generate leads?

Noah,You might want to look into new construction.  

But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).