Saw one hauled down the highway recently (with below zero value, counting disposal)..For a shield, maybe show them what a duplex sold for ten years ago in your area versus a mobile and where they are today in terms of appreciation (you could also make a good case on cash flow, especially with park/lot fees, but for a simple "wow" figure, that may do it)...The ones on a lot that are affixed to the ground do better here, but the ones in  the parks are personal property here (and I suspect elsewhere) and you get killed on the lot fee, and the construction is not ideal for durability in my climate. 

I'm new to running this type of analysis so bear with me.In calculating the NOI, I've seen examples where the major expenses (taxes, maintenance, insurance) are still counted as an expense to the owner (even though commercial leases are typically NNN) and then it's balanced out by a line item to the income for 'tenant reimbursements' which is essentially the tenant paying the owner back per the NNN.Every example I've seen has the tenant reimbursements be exactly equal to the expenses such that it's a net zero to the owner.

This is not a beginner market its one of the more difficult municipality in the entire country to work in even experienced rehabbers pull their hair out The value of this property your offering is probably pretty close to zero or negative My clients pay 10 to 30k for these as is then put 80 to120 into them.

The new tenant responded back that she is not smoking and the smell is possibly the smell of her incense candles.Unfortunately I did not have a 'No Smoking Policy' in the lease.  

Some people what section 8 housing, some people want pure appreciate and zero cash flow, some people want all cash flow.

If you are worried about liability, get an umbrella insurance policy, plus regular insurance for the rental property.  

There are great deals all over the US.. just depends on where you want to be and what your risk tolerances are... the house hack 4 plex for the under 30 crowd on the west coast in my mind is a total no BRAINER .... 

I have landlord policies on each.

FriasSo, in theory, if the tenants are covering the mortgage and all other expense, but not a penny more, that would mean the cash flow zero.

I have never participated in that type of deal so I don't know how to recognize when that is the case--I just make it a policy to pass on those notes.