For a complex topic where you are just getting started it is too easy to miss important details or assumptions.

It spells out the details in a very easy to understand format.

Not so much because I'm pendantic about those points (although I am), but because posts that are easy to read will get a quicker, more reasoned answer.Also (and I mean the following in the best way), spelling will not catch the things that were in your original post.feed back***feedback is one word..."

People have always looked at real estate as "easy money", but the reality is much different.

Potential for Mobile Home Park with other 4 mobiles rehabbed and rented: $3600.00 There is room for 4 more pad with easy utility access.

I would suggest a easy way to start is by studing and becoming an expert in your immediate vicinity.

Now it may seem hard but nothing in life is ever easy and if it is most likely there is something wrong with what you are doing.

Then, I would suggest coming up with a written screening criteria, so that it is easy to know who you will take and who you will not.

Its pretty easy to find out the nightly rates, property prices, and I'm sure a property manager could clue you into their costs.

If they make every payment on time for a year or two, your investor friend can hold the note for a nice investment over time.I do think that giving them 80% of the payments towards equity is too much, he should consider much less.Tenants should be easy to find via newspaper ads with a prerecorded message to screen out interested people.