agreed with @Neil Schoepp that this is a very low cap rate for a smaller park like this, and the typical industry norm is a 3 point spread to help when interest rise, all of your other metrics for investing....cap rates, cash on cash return, IRR will still work with the investment if you go to refinance etc.With a smaller park like this and lot rents around $200...your going to want to not pay for too much upside(at least for me)...Smaller parks can be a good opportunity for operators and if bought right, they can be a great options to your portfolio. 

@Mitchell Jaworski Thanks for the info, I do have a great deal analyzer I bought from @Michael Blank. 

We bought the house with a fast close (20 days) using conventional financing.

I’m like most newbie investors because I don’t know what I don’t know but I’ve bought all of the bigger pockets books and most of the books suggested by the podcast guests to study and reference.

So thanks in advance.I have a two part question:Question 1: Have you ever bought a house from someone with owner financing?

I've bought several properties at it locally. 

My understanding was that my duplex would be depreciated via a 27.5-year straight-line method on a half-year convention in which the half year's worth came in the first year regardless of when I bought the property.

I am super new to real estate investing as I bought my first house in Southern Pines, NC end of 2016 that I currently live in.

We bought for $56,000. 

This thread is so gold LOL