Location"In or around a MSA of 30,000 people or moreWithin close proximity of a Walmart  (If Walmart won't go there, you shouldn't either)Sustainable economic drivers (employment for your residents)Entry level home values above 100kSize - depending on your operational strategy, I have found that larger parks tend to work better50 spaces or more if you plan to use an onsite management team (smaller than that will have a tough time affording a good onsite team)Smaller parks can be managed with a 3rd party, but keep in mind you can't really count on them to move the needle for you on items like filling vacant pads, renovating homes, selling homes, or any major capital improvements, so you should have a plan to handle those items. 

There are only so many hours in the day so you must make them count.

It should show you 8 pages worth of posts. (8 pages not being screens, but what the forum counts as a page).

It could be homes that you hand pick based on criteria that you establish (sq ft, bedroom count, etc) that aren't necessarily even in the same area.The process is VERY similar to ACTUAL farming, which is why the terminology is used. 

@Hub Knott I doubt there is a solid number out there you can count on.

I know there are things I can do to alleviate the burden of the utilities or get more rent (I.e. raising rents, coin laundry, charging for storage/garage) but I don't want to count on them when determining an offer.Thanks in advance!

If that happens, it would speed up development and increase values on Wadmalaw and Johns but I wouldn't count on it anytime soon.  

There are many rules of them, but real numbers are what counts. 

In this situation, will the HELOC count against us in a debt/equity calculation? 

You should always underwrite the asset as is and base all your financing decisions on current income and not proforma especially counting on a refi.