Hello People,I am looking at putting a MHP under contract and would like to have some advise on how to value it correctly; the details to hand are s followsa) 34 unit MHP (15 of them are POH ) asking $350Kb) Total Gross income from lot rentals $5700c) Monthly expenses (onsite manager/maintenance $1200, property taxes $50, supplies/misc $150) - I feel the expense ratio is way to littled) tenants pay for all their utilitiesare there any other expense line items that I need to look at or ask forAlso can the experienced MHP investors  please advise on how to value this property

I won't say it was a total loss of my 197.00 since I picked a few tips here and there but definitely not worth the time and/or money. 

Silicon Valley Job Growth and RE Price Appreciation@Gloria Mirza, I agree with you on job losses and/or recession before price decreases..You can see there seems to be a pretty close correlation to the rate of job growth and the rate of real estate price appreciation in Silicon Valley.

I did did a lease options partial rehab to flip, and ended up spending $5k more in repairs and items that "came up" after the tenant moved in. 

I really appreciate you taking the time to itemize all of those different expenses.

Interested in using the allowance toward building equity instead of leasing, that I will either (a) feel reasonably comfortable reselling without taking a loss in 2 years, or (b) turning into a rental with a PM that would generate reasonable returns.I'll be commuting from our home in Indiana, so I'll be only occupying ~4 days/week.  

They can make the difference between profit and big losses!

Sounds like you understand construction so get a good feel for needs (roof, porch, etc) and just build out in excel the aglow over time and when you need the big capex spend for these items.

The reasons are the same as item 1 and 2 above.

My wife and I have a discover card that we use for gas and some other items and we pay it off each month.