Property/Deal Profile General Guidelines Purchase Price 700,000 1 Percent Rule (%) 0.857142857 Down Payment (%) 3.50% 50 Percent Rule 3000 Down Payment ($) 24500 Cap Rate 8.214857143 Interest 4% Cash-on-Cash Return 26.73744578 Term (years) 30 Loan amount 687,321 Income Cash Flow Rental Income 1 2500 Total Monthly Income 6000 Rental Income 2 3500 Total Monthly Expenses 5075.33 Laundry Income Storage Income Misc Income Total Monthly Cash Flow 924.67 Total Monthly Income 6,000 Total Annual Cash Flow 11096.04 Expenses Cash-on-Cash Return Taxes 750 Down Payment 24500 Insurance 58 Closing Costs 0 Water/Sewer Rehab Budget 30000 Garbage Misc Other -13000 Electric Gas Total Investment 41500 HOA Fees Lawn/Snow Vacancy 200 Repairs 200 CapEx Property Mgmt.

Anyway get a system to vet your contractors and don't get lazy.

Most people are only looking for city water and sewer from what I gather and would like to know how many POH (park owned homes) there are.

Then at the close of business on the 1st they would tape a note over the drop box stating that rent was now late and that only certified funds in the amount of rent+water+filing/legal fees would be accepted.

In my case this tenant strung me along with "I can pay on" and "As soon as we get our tax return" etc. in fact the tax return excuse is what kicked of the late paying snowball that led to eviction.My mentor does this and has a large portfolio and his results have been great with this system, evictions and late pays have drastically been reduced.

I don't mind the fees, as they all take care of the lawn and water for sprinklers.

I already have financing in place and would like a little guidance maneuvering the murky waters of ARV's and comps on potential properties. 

This won't necessary kill your case, but you may still need a varianceFire Suppression - I believe sprinkler systems are required once you go above a 2-family.

MHP has 57 spaces (of which 51 trailers are owned by the park), 100% occupancy, average rent is $500/month, city sewer/water, they pay all utilities, plus they pay the grass cutting bill.

Also, like some mentioned, it is a time to get my systems and processes in place as well as build a solid team that can help me reach my higher goals of more units.I will have to get in touch with some of you who can be of a benefit to my journey here in REI.