It really depends on how comfortable you are with the operator and their plan - because if you do this type of investing in an asset where the cash flow does not cover the interest payment, you are counting on appreciation rather than cash flow and I never want to count on appreciation.This strategy can effectively create money from nothing - you borrow to invest in an asset, pay the loan and interest back and you either have cash or the asset and you have no skin in the game. 

I now want to purchase another investment property (3rd property) in a more affordable market with a partner and assume that the primary residence will count against my DTI.

Purchase price: $36,000 Cash invested: $40,000 (Counting repairs and the purchase price)Mobile Home Park in disrepair.

It is about the ability to make a profit that counts.

The normal renter isn't coming through and cross-referencing the neighbor's lack of meeting the setback requirements.I mean, are you dealing with high-end rentals or something?

But I do have a 20 year arm adjustable every 5 years and cross-collateralized properties-- I know that's a deal killer for some folks.

@William Anderson Count me as #2.

In the beginning every dollar counts.

Quote from @Keivan Cross: Looking for information regarding reassessment properties in Cudell and Old Brooklyn.

Dean, that has also crossed my mind.