Hi biggerpockets I have an option on 30 acres of land in alabama that could be used for a great mobile home park or developement for new builds but I know nothing about this.

Latest development.

But we were strapped for cash and need the proceeds to grow our business.So, If I can use the house we just owner financed you will get a good prospective.

But maybe the tax benefits and the prospect of appreciation outweigh the risks.I own a property near Boston that cash flows $700/month, but after property management fees, I'm netting only about $200/month.

Consult with a local mortgage banker for underwriting guidelines for your situation ( ie, landlord experience, reserves, debt to income).Start to develop relationships with local bankers as well, who may be more flexible.

There is still a ton of land to develop on around that area whereas if you come down to Bethesda, Kensington, Chevy chase, closer to DC you will see this is much different.  

Month to month rentals or short term leases are an advantage to them.You have to know what kind of buyer your prospect is and market specifically to him.Good Luck.Bill

This is also nice to let prospective tenants know that I will be at the property monthly; which makes them think twice if they want to do anything against the rules.

The more stuff I read on here the more intelligent questions I'll develop!

I discussed my situation with two smaller banks, and the smallest bank was able to put an give me a proposal for a 5 year ARM at 4.70%.I have also developed a proposal and brought the deal to people I know had cash they were looking to invest.