Some of those variables are the size of the park, number of vacant spaces, number of POHs, number of vacant POHs, number of MH spaces, number of RV spaces, the park amenities, the age of the park, underground infrastructure age and condition, park location, size of the market, value of SFRs in the market, city water or well, city sewer or septic, other utility sources and whether or not they are direct billed, deferred maintenance, cost of management, and more.

To answer the other question I sourced the deal via web marketing.

Being a sole proprietor (individual ownership) versus LLC makes no difference for taxes.

You need to know all the options available to you: you can keep it as your source of monthly cash flow, or you can swap it for another property (known as a “1031 exchange”).

Your sole purpose is to keep those tenants happy, handle their needs, account for rents, and pay the expenses to keep tenants in the building.

@Ijeoma P. working multiple brokers is tough...sure, the first call probably went well, but this is a relationship business...I've sourced 7-deals this month and none of them went to folks that were running the broker circuit.

What is the source of this data? 

In either case, the remedy to market knowledge is talking to more investors and RE professionals (PMs, agents, even contractors can be a great source of info) in your market as well as reading whatever information you can on the areas.

There are some groups that exist for the purpose of helping investors learn and network...and there are some groups that exist for the sole purpose of selling you things to enrich the organizers.

Hi Ryan, my start-up, Awning, uses AI and big data to help buyers source investment properties.