Most important is to learn to evaluate the deals.

This leaves bridge as a more viable option than perhaps CMBS or recourse bank debt.As to the take-out risk:  Sponsors (and their investors) should be evaluating how much "lift" the value-add improvements bring, both from a cash flow perspective and from a valuation perspective. 

A lot of the house hacking articles/blogs I've read frankly do not get into the level of nuance I'm looking for to properly evaluate the %/square footage split question.

You'll also need to evaluate asset protection strategies, LLCs, insurance protections, trusts, etc., as you don't want to expose that much cash to risk of lawsuits and other risks without having tools in place to protect it. 

When I'm evaluating a sale I usually look at this 4x exchange rule that I honestly think I just made up for myself.

@Eric Lopez In addition to analyzing the deal you have to evaluate the tenant.

Given that point, and that we are entering the slow sales season, I think you should seriously evaluate your hold period.

Any suggestions on how to start evaluating properties/locations? 

I am more worried if I am missing anything with my evaluation of the property and wanted to see how others in this group would evaluate something like this.Here is the current information I have:25 Pad Park5 Pads Rented at $295/mo on average ($300-$350 market rate for the area) -$17700 14 Park Owned Homes - renting from $600-$800 based on condition.

Hello, new investor here and I would love some help evaluating a deal.