You may know your credit score, talk with all the lenders pick one and let him/her prepare the file. 

Outside of those issues, the house seems pretty decent, is in an up and coming neighborhood and the rental income will cover monthly expenses (M/I, Taxes, HOA+Utilities) comfortably.

Outside of those issues, the house seems pretty decent, is in an up and coming neighborhood and the rental income will cover monthly expenses (M/I, Taxes, HOA+Utilities) comfortably.

Abstract fees (abstract of title fees).Charges for installing utility services.Legal fees (including title search and preparationof the sales contract and deed).Recording fees.Surveys.Transfer taxes.Owner's title insurance.Any amounts the seller owes that you agree to pay, such as back taxes or interest,recording or mortgage fees,charges for improvements or repairs,and sales commissions.Settlement costs do not include amounts placed in escrow for the future payment of items such as taxes and insurance.3) if there were other costs incurred to acquire the house such as if you spend money for tax advice, tickets to fly to look at the house( or milage)  and such also gets added to the basisGood luck

@Jack B. using the numbers that you recently posted (I'm assuming they are the property you are considering, not the sold comp), I would take the $4300 rent, subtract the $500/mo utilities, subtract $800/mo for reserves, ($600 is too low, in my opinion) and $600/mo. minimum cashflow, so I'm left with $2400/mo.

I have been looking around the Memphis area as well as the surrounding areas, to pick up some rentals. 

I'm picking up the keys Monday or Tuesday 7/16 or 17/2018.

The costs of concrete, site work, utilities, permits, licensed tradespeople, heating systems, button-up, garages/decks, etc will blow you away.

We are interested in getting a "home base" property 3-20 acres in or around Asheville NC and then pick up rental properties as the deals arise. 

In addition I'm looking to pick up a rental every year or two to add to the 4 I currently have.My question is about mobile home parks and specifically parks in and around St.