don't forget about mowing, snow plow/salt, some turnover, taxes for your manager/workers comp, free lot rent, money for your management time, accounting software, LLC set up cost Your going to have more of a greeter in a park like this, which would be free lot rent only and maybe $5 a lot...smaller parks have really thin margins...if you have 2 tenants move out, die, leave town, get arrested, whatever, you then lose 14% of your tenant base and monthly income for the property, get to 5 tenants and your at 40% which could throw your loan into nonperforming very quickly unless your willing to come out of pocket on something like thisjust to show your top gross revenue will never equal 40,000(210*14*12=35,280)just do your diligence and i wouldn't pay more than 200k for something like this...and thats a stretch or if there willing to carry some of the papersomething this small, don't turnover to a property management company because they don't know what their doing normally with a park like this and their going to charge 10% of revenue probably.

@Trey Goodwin You have to refinance after that period on current interest rate or you can get conventional loan for longer term like 30 or 20 year fix.

If they specifically need to cash-out to buy another home than seller financing is often DOA.As mentioned, if the have a balance on their underlying mortage- If they want to pay it off it might require a big downpayment- It is possible to leave it in place with a Wrap but that is an advanced strategy and while fairly low risk, the due on sales clause is a concern.On interest rate, my experience is that a seller finance buyer usually has to pay a few points above the going interest rate for conventional/FHA lending so probably closer to 7% these days although it never hurts to ask for lower...All of this is theoretical so the advice to chat with seller to get more information is the right next step.Jeff

If you are shopping for investment properties, then it is conventional to use multiple brokers. 

I recall hearing that there were studies done that found that conventionally attractive people have an easier time doing almost everything that involves interacting with people.

One of the standard setup is to have each property in its own single member LLC in the state of the property.The property LLCs are then owned by a holding LLC in WY or NV to benefit from their good charging order protection.In addition, you would use a C corp as management corporation to take salary (if needed to show steady income for future loan approval), retierement, medical and other fringe benefit.

Trying to see if get a 5% conventional loan with Sam Sharpe who @brieschmidt recommended.

I came across a couple articles where people would pay themselves with 0% intro rates through paypal and avoid cash advance charges and do this for a couple cards and pay for properties.

With giving ownership rights to my residents, I'm able to charge $500 to $600 more than fair market rents and I don't have any of the landlord headaches.

Not with a conventional bank loan.