You will need to fine tune the 5% by looking at the building mechanicals and roof and estimating remaining life of these items and replacement costs.

For instance....if the note is "staged" or there are "lumps" what mechanics do you use to arrive at a desired yield for that clump (sorry Bill...LOL) of cash flow?

I could drag this out and double or triple my investment, but it would take longer than I like on a mobile home.

Heck, most of the time we've torn the house to the studs and sub and messed with every mechanical...

I did a redevelopment phase that basically froze everything in a mobile home park that was in a flood plain, stopping anything on the exterior or on the property from being improved and in a short time, the city took the property and turned it into a park behind a new firestation.FEMA can also limit improvements and amounts of insurance coverage.

I don't know what the other houses around there look like though.Have the mechanicals been updated?

How much is it worth to learn ways to get a higher return from your investments.I have learned a great deal here about note investing, mobile home park investing and how to look at a commercial deal.I recently put what I learned to use and purchased my first commercial property and will be refinancing into an SBA 7(a) loan.

Around here, you have to be licensed to get refrigerant... and personally, I have a policy not to hire mechanical contractors that aren't licensed.

Like Bill mentioned, it should not be a problem at least to do the mechanics of the transaction.

You might want to start with mobile homes to build up some funds to work with.