This is an amazing site and it's fantastic for exchanging ideas.Andrea

If you cannot recoupe the money put into property through the cash flow in 5 years or less or by refiancing after work performed it would be to risky of an investment for myself. 

Buying a non-performing asset (an asset that generates no income), that I am only going to sleep in that sells for 6, 8 or 10 times the average income in a particular area, is not something I thought was a good "investment" in 2006, nor do I think it is today. 

"Pet rent" is a little more grey - the Residential Tenancies Act does appear to preclude such additional rent amounts, but the practice is widespread and, thus-far, the authorities appear to tolerate it.We only allow pets in select buildings: either ones where we have inherited pets and have yet to perform any substantial retrofit or where the building was renovated with pets in-mind.

The costs of concrete, site work, utilities, permits, licensed tradespeople, heating systems, button-up, garages/decks, etc will blow you away.

Your property could become a super-fund site right along with the gas station.To me, #1 is a minor factor, if a factor at all.

Also the pro-forma shows rents at $500/month, but Rentometer and other sites put the rent closer to $800/month.2 Questions I was hoping the BP community could help me with:1. 

For far more detailed explanation why look up "valuation of park owned homes" on google and zoom in on the mobilehomeuniversity.com site and read what Frank Rolfe has to say about this topic and you will thank me in the morning. 

Each party shall cooperate with the other and with the qualified intermediary to accomplish such exchange and shall perform any acts and execute any and all documents reasonably necessary to assist in such exchange, provided that neither party shall be required to accept title to any property other than the Premises, expend any additional amounts of money above those amounts for which it is obligated under this contact or extend the Closing Date, and Seller’s time to close under this contract shall not be reduced."

There is a lot of information on BP about running the numbers on possible acquisitions.My advice is to dive into the wealth of information in the Videos section of this website.I am trying to gain more, and more knowledge and luckily my off-days just started so I will probably be on this site every second I am up for the next two days digging in deep and taking notes.