Purchase price: $22,000 Cash invested: $35,000Currently rented. 1999 3 Bed 2 Bath Mobile Home Updated kitchen and master bath.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

I would also have an agent run comps so you can get a exact idea on price.

They are sitting because either the agent sucks or it is over priced.

Nearly as good as investor conventional since Fannie and Freddie did all of their loan level pricing adjustments a few year back. 

I, like many used to think “newbies” posted questions or asked for “help” to obtain the best advice from experienced investors, obtain guidance on strategic alternatives, or get a qualified opinion on whether the latest hot guru was worth the $40k price of admission.But, I was WRONG.No, none of those reasons are why newbies come to BP.They don’t want to find out that their “revelation” about how to invest has been tried about 10 million times - with limited successThey don’t want to learn that without capital, knowledge and experience their willingness to commit weekends is near uselessThey don’t want our opinion that they should skip trying to wholesale and spend some time learning as a licensed agentThey don’t want advice that has them taking classes at community colleges or learning real estate law, finance, or principles.So WHAT do they seek when they come to BPThey want comfort, encouragement. and to be told their thoughts are correct.

Ask about financing and see what their rates are AFTER they give you price quotes.

Hey Jose - if you're working with $15k i'd examine your local market to see if there is an opportunity to house hack if you want to work solo.If you're opening to partnering - I'd reccomend attending your local REIA meetings to see who is looking for a partner / capital.

How did you decide on a fair purchase price looking forward a year of two?

I can see how this might not apply the same way in high priced properties  but down in the cheaper properties it matters a lot.