Also, $400k is pretty steep for a dozen units, unless you have extremely high lot rents.Mobile home parks are the one real estate asset class that seems to readily have sellers willing to finance the deal.

@ jerry thanks again this has been extremely helpful im going to refer to tour blog to get some further insight into online tax lien auctions

@Bryan H.We've had some success buying property at the other extreme from Loopnet.

Thanks again for the tips, you've been extremely helpful!

I'm also going to be taxed as an S-corp not sole proprietor if that makes any differenceAny help would be extremely appreciated!!!!

As @Pam R. mentioned, it will be extremely important to decide your criteria in advance in the event you receive multiple applications.

Tenants to pay all utilities.Estimated Taxes: $1,850/yr (on high end; could be closer to $1,400 on low end)Estimated Insurance: $700/yr Taxes + Insurance = $212.50/moOther ExpensesProperty Management (@10% only when rented): $130/mo-vacancy = $112/moVacancy Loss (@ 13.90%): $2,168/yr = $181/moThis is extremely high and could be unlikely, but according to a website I use for information on the area, it says this is the average for this area because of seasonality.

Your points on DIL are well made, and I've used a variety of methods to paper the file when trying to obtain DIL's, including extremely well written (pro-lender) Pre-negotiation letters.

Interest rates are extremely low right now so if you can be disciplined buy 1 more house and use the money to pay off the debts in order of interest rates from high to low.But if you know yourself and cannot be disciplined then just pay off the debt.

@Cameron Ellis I find postcards to be extremely effective in my property management business as well.