I’m evaluating deals, or should say, learning to.

Some of those variables are the size of the park, number of vacant spaces, number of POHs, number of vacant POHs, number of MH spaces, number of RV spaces, the park amenities, the age of the park, underground infrastructure age and condition, park location, size of the market, value of SFR in the market, water or well, sewer or septic, other utility sources and whether or not they are direct billed, deferred maintenance, cost of management, and more.However, there is a basic "back of the napkin" evaluation that will usually tell you if the deal is worth a closer look.

I am also unsure how to evaluate a negative IRR.

I wanted to ask for your feedback on how I am currently evaluating properties.

You see it's easy to find a Realtor and you'll know within a week whether they can answer email, chew gum and walk at the same time, the thing investors don't realize is that the god Realtors are also evaluating you at the same time.

@John Cohen yea, it's a hard market, nothing stays on long, too many peopleI check the foreclosures at the courthouse weekly, the auctions for them usually have minimal people, I don't bid, I just like to practice evaluating dealsIf you're interested in this market out, while remaining out of state, let me know, I'm sure we could work out something

I would dig into the past operations/financials of facility and then evaluate how the facility is currently being operated (how are they collecting rent, how are they renting units, security cameras, security/auto gates, building condition, types of doors and locks ect....) and determine if there is any value that you can add or would this be a turnkey purchase?

Once you find a home you'll put in an offer and tell the bank that you put in an offer and they'll start the evaluation process which takes between 30-60 days.

I received an email report of the violations this morning.My contractor suggests I "have an engineer evaluate everything in that report that mentions structure and have him write instructions. 

@Brian Toy there are red flags to look for during all phases of your evaluation.The first phase of your evaluation is to find reputable sponsors to invest with.