You see Rina, Rolfe spent three days painting a picture of:1 - The perfect business (high gross margins, high barriers to future competition (quasi local monopolies), increasing demand).2 - Claimed that this perfect business counterintuitively sells for a big discount to its true value - and painted a plausible dual reason for it:a - the stigma premium - mobile homes are yucky and embarassing, therefore demand for them is lower than would be expectedb - the current set of owners of this asset class (mom and pop) are so stupid and lazy that they have priced the rents of the asset class lower than they should be compared to apartments.3 - He then masterfully executed the classic sales technique of creating a sense of urgency - saying that the current fragmentation and irrational discount-to-value of this asset class (mobile home parks) will soon expire because "mom and pop" are dying off, and will be selling out to professional investors with huge pools of capital.4 - He claimed that when this de-fragmentation occurs (the next 10 years) the discount-to-value will disappear and that the real value of the rents of mobile homes will finally be extracted through inevitable professional management.Item number 4, Rolfe must know, makes any experienced investor salivate - it's like cat nip.

This could be appropriate if the deal has been held for the original deal's hold period and a recap can realize the original LP's investment but the GP wants to still manage the deal.One of the best things about this investment strategy is to be able to de-risk the asset via a refi and achieve infinite and compounding returns!

I just changed when the markets changed to stay relevant.. right now rentals are soup de jour. 

Hi Eleena de L. , I look in certain parts of Norristown for fix and flips.

You can ignore 99.9% of the stuff you read about Alaska, Delaware, Nevada LLCs. 

Investor in New Castle County Delaware..

This could subject it to Unrelated Business Income Tax (UBIT).Finally, I see that you live in Wilmington, DE. 

Any idea if they'd do loans down in Delaware?

I finished screening a tenant over the weekend and am meeting them in a few hours to get a deposit, which for me de-lists the property and would stop any other screening activities. 

It doesn’t necessarily have to be someone more seasoned than you to show you the ropes, as long as both parties understand the risks this can de-risk your first purchase without diminishing your learning experience by you taking it on as the point person.