If I can increase my NOI (increase rents, lower expenses, add additional income through laundry, storage, vending machines, etc.), I increase the value; regardless of what another 8 unit community down the street sold for.

The best improvements you can make will be those that increase income, such as adding rentable storage; or reduce operating expenses, such as separating utilities or making efficiency upgrades if you pay for heat/ac.

Sounds cheap maybe convert into a storage business. plenty of people need extra storage space. 

Finally upgraded from moose calls to the same device Matthew Broderick used in War Games.

Today I put in an offer for a 28 unit self storage property.

There are 8 park owned MHs ages from 1974-1995. 1 MH used for storage.

I could be wrong but I'm guessing I'm not.By the way, if you rent to people that want to throw parties in the boathouse, whew...wear and tear will be through the roof.As for the mechanic's garage, that's got "boat storage" written all over it.  

If you want to know your IRR then you need to delineate those that are monthly expenses and one time expenses and when they occur so they fall in the correct time frame when solving for Your IRRCosts could include but not limited to taxes,, insurance FPI, collateral storage, servicing, misc servicing costs (see what servicer offers and you will understand the list of other costs you will incur which is too long to list), property preservation, loans mod fees, forbearance fees, legal fees, realtor fees, if you take it over after foreclosure then you have maintenance fees (mowing lawn).....Send me a PM and I can let you know what I missed as sending from my phone and do not have my calculator in front of me

BAD MARKETING - Storage is not an emotional decision.

Usually with short-term rentals I am more interested in if there is wifi / internet provided as I can stream the media off of my devices (phone, tablet, computer, streaming device (I just lug around my Apple TV)).