.$505,882 in real value plus $90,000 of personal property = roughly $600,000 in value for the park as it sits.Your upside is in filling the remaining vacant lots, pushing the rent to $250+ over time, and renting the 6,000 sq. ft. building.Your greatest risk is the private water/sewer system, and the demand in a metro of only 33,000 (TEST AD ESSENTIAL).The potential value of this park is 25 lots x $250 x 12 x .6 = EBITDA $45,000 plus 3 stick builts x $600 x 12 x .6 = EBITDA $12,960 plus 1 commercial building $1,500 x 12 x .6 = $10,800 = TOTAL EBITDA OF $69,000 AT 8.5% CAP RATE = $811,764.The risk/reward scenario is decent because if you pay $600,000 and sell off $90,000 in mobile homes, you have $510,000 in deal and, assuming 25% down, you have invested $130,000 down and, if you can bring the park fully back to life, you have a profit of around $300,000 on your investment of $130,000, which is about a 2 x multiple which you should be able to harvest in less than 5 years if you work really hard and did great due diligence.

It comes from Liz Faircloth and Andresa Guidelli, hosts of the Real Estate Invest(Her) Show.General Team MembersFinding Deals – Commercial real estate agentWholesalerMarketing teamFinding deals is an essential part of the equation and the above team members are needed.

So essentially i would only be able to take 30k out. 

If so I think the buyer may be in a position where you have essential shown them what can be permitted but have removed their ability to utilize said entitlements by withholding the design that's been green-lighted by the jurisdiction. 

Essentially, I took the future payments for all months and I discounted them to its present value. 

In short, they find deals, have contractors on call essentially, manage the property at a very reasonable rate, AND work with lenders that specialize in working with investors. 

Real estate is something I've always been excited to try, and now feels like the right time.I've done a decent amount of reading and learning thus far, and I've settled that I'd like to start off by purchasing a duplex/triplex property that I can live in, and rent out the other units (essentially House Hacking).If there are any investors, brokers or people involved in REI in the Houston area, I would love to meetup and grab a coffee (I'll buy).

So I essentially gotta learn to invest out of state.

The LLC would essentially function as the property manager for the property (properties.)

New to this type of deal, but essentially do you give the monthly mortgage payment to the current mortgage holder, and expect them to pay it in their own name?