I also noticed that you did not budget any utility expenses for this property, so I'm assuming that the water expense will be covered by the HOA expense and the tenant will pay electric and gas.Good luck!

I live in the D C. area where in some cases buyers are offering 15k to 50k over asking price, so with that going on, how can people not be under water in these homes?

A couple notes about expenses:1. heat and hot water are included in HOA fees and would just have tenant pay for electric.2. 5% each for vacancy, repairs and cap ex because it's a small condo and not much to repair and everything outside is part of the HOA.Any feedback would be helpful.

We can easily determine the additional cost of electricity, gas, water usage, and consumables (paper towels, laundry detergent, cleaning products, etc.). 

Also, check minimum lot size and street frontage as you may need to carve the mobile home park out of the existing lot versus pile onto the existing lot, so if you are trying to preserve the existing structure, you may lose some lots considering setback requirements and access.Your local government may require public water and sewer for a new mobile home park, so be sure to check the requirements and distance to the nearest connections.

He acknowledged but went back to using water and packing it with his bobcat later that day.I also told him we believed the property line is not where the wood fence is but rather 15 ft out and that we were going to get the property lines surveyed.

I found a 20 acre plat of land that has utilities like water , sewer and electric off of a city maintained road.

Vinyl plank floors, paint, refinishing hardwoods, new hot water tanks, etcc.

@Jessica Seppo, Not to muddy the waters on you even more but.....You can actually take advantage of both the sec 121 exclusion and take up to the first $500K in gain tax free. 

I am thinking (and correct me if I am wrong) since I rent the rooms I should include the following: (excluidng the mortage, insurance, and taxes)- water-electricty-WIFI- TV cable- secruity footage