HI Alexa,Your concerns can be summed up to:1) will your income, credit, and assets (property value, reserves, equity) qualify at the time you apply for your refinance2) will the property appraise at the value you need during the time you order your appraisal to get out as much as you'd like out or payoff your current loan payoff (with out having to bring cash in to pay down your loan to the appropriate loan amount/ LTV)To negate the risk on #1 you can have a lender review your scenario upfront and plan for the anticipated new income/credit/assets 7 months down the line since things may be different then vs today.To negate the risk on #2 make sure you look down the line at the active inventory, pending inventory, days on market, and where the market is going as this will give you an indicator of the sold properties 6-7 months down the line.

Lawyer is going to charge $275/hour and anticipated the normal procedure to take ~3 hours including 1 hour of court time. 

Pre adjust the option price to anticipate that if they exercised the option they got credit and if they rented for x period of time they got a discount. 

What is now and what is to be anticipated down the line.  

I had a few pieces that didn't work as anticipated (scratches, screws didn't fit, etc) and they shipped me replacement pieces right away or refunded me part/all of the money.

If you're new to Vacation Rentals, you start getting a couple in a couple of areas and then things go wrong and it doesn't work the way you thought and then you get into financial difficulties you did not possibly anticipate. go see the world?

@Joe CassandraYep, that's generally how parks are valued - Lot Rent Stream as one separate valuation / POH as separate.In my spreadsheets, I separate the income / expenses for the two different portions.So if you're paying $2000 / mo to a maintenance man and he's spending 75% of his time fixing homes, then $1,500 is going to the POH side of things, and $500 to the Land Side.With the RTO stream, you can use a net present value formula, where you take all the anticipated cashflows, discount by 25% due to people bailing, etc, and then discount that income back to a rate you feel comfortable with (ie. 15%).That will give a theoretical value for those income streams.With POHs, here's what I've seen people do:Value based on what you can sell them for << more commonValue based on a gross rent multiplier, typically 1-3.

I met one set of parents and he had a legal pad of questions for me including crime rates, subletting contingencies, alarm systems, etc.I chose the 1st couple as they know the area (it's transitional), will pay the pet fee though it's unlikely their pets will cause damage and generally were a laid back couple.When I sent my sorry email to the college roommates, they came back with an offer of +150/mo in rent.To be honest, I anticipate the relationship to be higher maintenance than with the 1st couple BUT it is a significant bump in rent.Thoughts?

I just sent the tenant a letter explaining her options and anticipate more heated responses soon.

The rental market is very strong almost everywhere, so you'll have lots of applicants to pick from and will likely get more than you anticipate.