Always find out right up front who pays the utilities, if it's not posted in the ad.The denominator in this calc is your purchase price plus any rehab that you need to do right up front to knock out deferred maintenance.This should get you to a 15% net return after all expenses, vacancy assumption, and replacement reserves for roof, mechanicals, appliances, etc.The numbers above will serve as a filter when looking at many properties.

The lower dollar amounts I recommend mobile homes.

I'm considering buying a mobile home park.

I live and invest down in Mobile, Al and focus mostly on rentals and flips.

I received a call from a seller in St Pete that needs to sell their mobile home before June 1st.

I have friends who own mobile home parks and they use 50% for expenses, which I can understand.

Thanks Bill...Though the reason I lost you was that I was absolutely, completely incorrect in what I said...and I apologize for the bad info...I misinterpreted how my CPA did my taxes on a bunch of seller financed mobile homes last year (which can't be sold as an installment sale), and that led me to making the very incorrect statement about getting fully taxed in the year of the sale.Again, sorry about the bad info and thanks for the correction!

Yes, it's inappropriate, it's probably a violation of the purchase contract (often there is a provision in the purchase contract specifically prohibiting this due to liability & mechanic's leins).

IMO, too many fall for the guru stuff and think they can go flip a shopping center as easily as they would a mobile home.

Mostly in mobile home parks.I always look for number of electric meters, gas meters, and water heaters.