It is a sinking feeling when vacancies happen-- hopefully this is just a little bump in the road for you.

It is going to be cash negative for a long time but at the end I think it will appreciate significantly and have a strong positive cash flow.That said before I sink my obligations into this I wanted to run the numbers against the most cash flow positive areas. 

The owner did enter the unit due to a smell and discovered food spoiling in the sink, refrigerator and trash. 

During walk thru look under all sinks for leaks/signs of leaks. 

Somehow our first rental made it through financing only because when they did inspection I took old cabinets and countertop with sink in it off the trash pile, set it in kitchen where plumbing was, and that was my kitchen. 

Below is a detailed list of repairs and costs.Repairs and Costs$120,600 Purchase price$3,000 closing costs$950 survey to split lots$800 drywall patching and repair$5,500 for new water meter and installation$500 wire fence$1,600 new paint$300 plumbing repair$250 new carpet$600 new laminate$100 gutters, drainage, french drains$500 front porch$600 new kitchen sink and countertops$2,000 other misc costs, like new blinds, touch-up paint, gravel, necessary tools.Total Costs$137,300The SaleIn May, our tenants moved out and we sold the rental home for $145,000 after finding structural issues.

We've had interesting things go missing after a move out - toilet paper holders, sink stoppers, the wands from the vertical blinds, an occasional towel rack.

Mobile home values sink rapidly, and if they're not maintained can fall into disrepair extremely quickly.

Keep in mind that with a 5 unit, that's 5x the water heaters, furnaces, sinks, toilets, stoves, etc for the inspector to test- it's a lot more work.

When they move in, I teach them how to check if there are any leaks by showing them the water meter when there is something running - the kitchen sink, the shower.