Know the comps, and honestly, get a more experienced agent. 

Hello People,I am looking at putting a MHP under contract and would like to have some advise on how to value it correctly; the details to hand are s followsa) 34 unit MHP (15 of them are POH ) asking $350Kb) Total Gross income from lot rentals $5700c) Monthly expenses (onsite manager/maintenance $1200, property taxes $50, supplies/misc $150) - I feel the expense ratio is way to littled) tenants pay for all their utilitiesare there any other expense line items that I need to look at or ask forAlso can the experienced MHP investors  please advise on how to value this property

Your Team members need to be experienced and trustworthy.  

I generally work with more experienced investors and I sometimes forget how scary the process can be for those that are new.  

I am putting this out in hopes to 1) Help anyone else out there who is trying to grasp these ideas as I was before, and 2) Open myself up to constructive criticism from the wealth of more experienced flipped out there that are on BP.I will try to be very prompt with answer questions, comments, advice or recommendations. 

Assuming your uncle is doing most of these things (as he should, if he's the experienced one), it seems reasonable that you pick up some of the slack by doing more than 20% of the rehab work.Of course, if you're doing much of the work above, then his doing more of the rehab work is reasonable since he's getting the bulk of the profit (even if he's putting in more money).

I am fairly new to real estate investing and would like advice from more experienced landlords: Income: The application was from an engaged couple in their late 30s.

If asked, I'll share my ballpark repair cost and recommendation for repairs but most experienced investors don't need repair info from me.  

I would recommend seeking out an experienced fix and flippers of commercial properties and learn how they did it so that you will know the nuances.Good Luck

Although I've had this BP account for 1 year we experienced difficulties with the app and failed to engage.