The other 8 are worth -0- as the cost to rehab them is probably as much as their worth.So the maximum total value of the deal, to me, would be $450,000 for the park itself, and possibly $250,000 for the POHs, for a total of $700,000, I assumed an 8.5% cap rate on the land, and the only reason I went that low was because I'm assuming that the $150 lot rent is below market and can be immediately raised (the U.S. average lot rent is around $280).With the POHs, you can re-set that lot rent to any amount you want interntally day one, so there's some cushion there.You can possibly finance the newer POHs through 21st Mortgage, so you would get those cashed out fast if the customers qualify.

It would be ideal to get a lead source on autopilot then work on the next one. eventually you;ll have a growing business.

I'm researching areas for investing in rental properties, ideally multi-family.

Landlording starts with the customer in mind, the customer the capital asset is not the house its the tenant!!

The location 3 blocks to Macalester College is ideal.

Ideally I'd like to move in as soon as I own it but I understand if I have to wait 30 days or whatever legal length of time is necessary to allow the tenants to leave. 

Ideally the home will need minimal work but I do have some family in the renovation business that I can lean on as well if need be.

Ideally, you buy the right property at the right price so u can put your money in, pull it back out, then repeat.

Being between two metro areas sounds to be ideal for options! 

Should I list a vacant lot as a custom build option?