He has also left me with 3 mobile homes that net around $1,500 a month all together  but are in terrible shape. 

I'm from the Bay Area as well and would love to connect with other Mobile Home Park investors.

., Canada revenue agency (CRA) policy states:"If the property was your principal residence for every year you owned it, you do not have to report the sale on your return.

Have you checked out the stuff that they put on trailers (mobile homes)?

If a rating agency gives a AAA rating to this type of ABS, it means a hell of a lot more liquidity for the large SFR aggregation companies out there (think Blackstone, ARPI, Silver Bay, American Homes 4 Rent).

However, if it were my opportunity the fact that its a declining market, there's family living for free, then drop their price ~30% and consider owner financing is warning enough for several reasons already stated by others.BUT, If you have some other play that includes possible use by non-profits, govt agencies etc then maybe; if the numbers work.Good luck and give us updates.

@Steve Candor You've got your hands tied by staying put at your local agency.

You could apply to some of the head line daytime shows and see if you could make your presentation; another avenue might be "Grant" money; you might consider attracting a college student to work as an interne on this project "fund raising" or writing Grant Requests to government agencies or other groups.

County Records: Using netronline.com, locate the county assessors web site and look up property.Verify that the information on the listing coincides with what the county records say.Call assessor’s number to find out what agency the county uses to ensure title is clear of liens.Every county has their own process specific to them.Comparable sales: Using the “Recently Sold” link on Zillow.com, make of list in excel of the properties that have recently sold within the last 12 months using same criteria as subject property.Compare your property with comps.Rents: If flipping, you need this information just as an exit strategy.Using apartments.com / rent.com / trulia.com / local real estate agencies (Century21 or similar) to locate comparable property rents.If renting, this will tell you what you need to get the property for in order to profit.Run the #s: Using your risk factor, calculate all of the following: Purchase closing costs, utility connection costs, utility hold costs for 6 months if vacant, property insurance for 12 months, initial construction costs after purchase, rehab costs (if any), selling commission (if flipping), selling taxes forward to purchaser upon closing, your expected profit after sale or monthly break even cash if renting.Your drive to SUCCEED: You must have a written plan for this property along with two minimum exit strategies.Have your overall goal repeated on a daily basis.

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