Seller Finance - Are you up to speed on Dodd Frank?

You only need one person to complain to open a HUD investigation.It is like speeding, you can get away with it for a while, but eventually you will get caught if you do it enough.

It seems to me that this is a great way to speed up education.

However, the previous owner was basically paying for everything for some reason.Due to the nature of the deal, the specific details have been waived in order to speed things up and make things easier.

I am looking at a mobile home park with the following:42 lots in all- 34 lot rent only, 8 park owned (only vacancy is 1 park owned home getting ready for a new tenant)-Double wide lot fee is 225/month-Singlewide lot fee 210/month-City water to park (private individual meters) each tenant is responsible for paying water they--On septic-Lots are mowed by tenants -Trash paid by tenantsBrings in 155,000 per year gross, net is around 132,000 but is being self managedexpenses: taxes 2,000, insurance 1,000, gravel for roads 1200, septic tanks 2,000, park owned home maintenance 7,000, misc expense  5,000 (mowers, mailbox, other misc expense)Currently there is no property managerAdding in the cost of a property manager at 10% of gross is 15,000Adding in the cost of lawn service for the common area is 3,000Adding in the cost of a 10% vacancy is 15,000Underwriting at 100,000 NOI 12.5 cap at 800,000-12 acres -4+ acres of flatland not being used ( ability to add around 6 more units)-clean and well kept-Main Road is paved with some speed bumps. side roads are gravel-3 singlewides come with the property.

It needs road repair about $7-9,000.00 (depending on fill/gravel, speed bumps), new entrance , landscaping, school bus/ mail box covered area $8-9,000.00, upgrade electric boxes and poles $12,000.00, add city water $3,000.00, new pumps for sewage plant $3,000.00.  

We are currently house hacking our duplex in order to get our 1 unit up to speed.

Your interest rates and terms won't be as good, but they will be much more likely to overlook your lack of a "job"..Check out the brrrr method on this sight to help you speed up the process. 

It does have the effect of significantly reducing the viability a low-speed live in every two years fix and flip strategy. 

. - I had some costly farm repairs come up, and I start looking around for ways to speed the process up.