The attorney who reviewed my contract was also able to confirm the typical lease rates.Oh, one thing I forgot to mention is be sure to include how and when the lease rates will increase.

Some of the people you want to talk to include mobile home park managers, owners and mobile home dealerships in the area.

The business is about leveraging so I recommend With a $100K in cash and $100K Heloc get approved for a loan that includes renovation $. 

As part of their curriculum, certain programs could include possibilities for mentorship.Attend conferences, workshops, and seminars on real estate in Texas as a means of networking.

Also, you will want to make sure that the telephone conversation you recorded is within a state that allows for one-party consent (meaning you) as that is not the case in all states including mine.  

It may be a terrible deal but you have to run ALL the numbers including "Special Assessments" from the HOAs.

I'm a 2x house hacker here in Los Angeles, including one with an ADU.

@Dalton Briggs mentioned Todd Bradshaw and the Worley Group, I would include Heather Henderson, Tracy Lightfoot and anyone at Worley in the most knowledgeable Realtors in STR.

Document all communication, including any promises made by the tenants to pay rent or excuses provided for non-payment.2.

I had wrapped my head around residential not around commercial, But to me the deal seems amazing - you guys tell me 8000 sq. ft building7 storefronts on an active downtown street (all rented and currently have tenants)34 unit mini storage in back lot (29 units rented - the rest of the unrented are being used by the current owner)Asking price is $798,000 and owner is ok with seller financingAfter sitting with them today the owner who is 83 said he is ok seller financing and verbally agreed to $715,000 and a 4% interest rate, 30 year note, $100,000 down payment, no early payoff penalty - my lender and real estate agent both came back valuing the property as it sits at $840,000Income = Rentals ($5075) Storage Units ($1935) = $7010speaking with the owner he hasn't raised the rent on either the storefronts or mini storages for almost 10 years - looking at comparables in the area we believe we can raise the rent and storage units easily to push the income up to $10,000 a month 4 of the 7 Tenants have been there 5 years plusCost = Including estimated payment, taxes, insurance ect. would come to a monthly of = $4450that would cashflow $2560 a month at its current with the potential after purchase and rent adjustments cashflow $5460 a monthPending an inspection the property looks in good shape with little to none improvements needed at this timeA quick background I have had rentals before on the farm we own, three houses we rented out so I have some experience) My QuestionsIs this a good deal???