I have just read a book about this, and a business owner spoke about his employees who would take "multiple taxi trips in one day" or "dine at the most expensive restaurants even when alone" its just something that will happen.

I've torn one down and I've prepped another for demolition, but tearing down houses is crazy expensive.

How do you know how much to deduct for these estimated expenses that you may do yourself or you end up tossing and replacing?  

Assuming a 40% expense ratio, the net operating income at the current income level would be around $19,440 annually and $28,800 after renovations.At a $360,000 asking price, the cap rate based on current NOI would be 5.4%, which is low for a park with park-owned homes and required renovations.

In my area, they charge transfer tax on the assessed value rather than the LOW sale price.

The median home price is also very low nationwide which creates a low barrier to entry.

When they do HML on OO, they want very low risk.  

A lender will use 75% of rents, 25% is deducted to account for vacancy/expenses. 

I have noticed competitors charge as low as 10 to 15% but their quality isn't the best and then I have seen others charge 25 to 30% We remain in the middle and provide a small business experience with super host status.

No debt, they bought this place for like 200k in early 90s, quite old people. im not sure if they will be alive for the 7yr term but they chose it..The reason im putting so much down is im buying w gift money and i want low monthly payments.