One thing about birddogging: Even if you don't have much money, and think the only way to break into REI is through birdogging, you may find that when you start marketing for motivated sellers, which costs money too, and they start calling you, it may be difficult to just give those leads away to the investors for a small fee.

I'm just starting to learn the basics, like cap rates.

Locating people with private money would be a bit more difficult using online lead gen.

There are various good ways you can market to sellers, as well as calling on FSBO ads and looking on Craigslist.As for PM, if you are up for it, it is really not that difficult to do it yourself, especially helpful if the deal is fairly marginal as to profit, you can save 10% by managing it yourself.

At current rents the property would have a 5.8% Cap.

By the way, lose the caps lock key.

For most new investors, the most difficult deal not only to find, but to pull the trigger on, is your first one.The best thing is to educate yourself and surround yourself with knowledge.

I wouldn't be selling a MHP now unless someone came to me and made an offer I couldn't refuse.Your numbers are trying to sell, if you had no other expensees, at a cap of 10%.

Consequently, many investors end up with properties with amazing cap rates (they just have a very hard time collecting any rent whatsoever).

Eventually, it will get sold and these issues will go away.Unless you were very careful to protect it, its not difficult to come up with someone's phone number.