I don’t want to be bothered with a $5 toilet leak, but I do want to be bothered about a $300 water heater or a $2,000 furnace replacement.I review every statement and every expense/income that I receive.

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.

The recent water quality issues and the poor schools reinforce that.  

The original water records will have what the property was built as originally.  

I'm a newbie in the Dallas area too, trying to navigate the investing waters.

remember in 2008 when most mortgages were under water?

Chris, I purchased a 3 bedroom 1 1/2 bath in zip 72209 for $50K  I'm renting it for $765 w/ gas and water paid.  

Something you might try with the black mark is bleach and water.

What do you inspect when you get to the property, for example water heaters, foundation.

Not haves- pools, hot tubs, fridges with water dispensers/icemakers or stoves and washers , dryers with too many electronic displays!