It appears the previous owner did put in new vanity and toilets, so it was really just be updating the flooring and the wall tiling.3.

If you are able to rehab the mobile homes and leave them in their current location this would be ideal as you will not have to pay for the homes to be removed and transported, also the park will keep these homes inside their walls so that you may continue paying lot rent monthly.As an active mobile home investor you will be bringing a lot of value to the closing table besides $250-$1000.

Not saying to not take a mortgage, I am just saying, if possible, not go balls to the wall and mortgage every property to the hilt.  

I noticed water damage on the ceiling and wall of the main bathroom.

I like the idea of just leaving smoking out of the party wall agreement altogether.Thanks,Paul

You can try to convince your tenant that cleaning the mold will be enough and if it come back then you will replace it.I recently had a mold problem on the bathroom wall.  

Kitchen has white laminate in okay condition, kitchen and bathrooms have wallpaper in bad condition, one bathroom has slightly rusted light fixtures, the grey wall paint is either gloomy or chic (you choose), backyard has patches from the dog, master bedroom has a weird wood inset, garage has a big dent in the dry wall where someone's car hit it, Where would you invest to make it feel more clean and modern?

We haven't talked about specific repairs but here are some things that definitely need to be replaced or repaired: no front sidewalk from work we did 2 years ago - needs new sidewalk, exterior brick wall is falling in in one spot, gutters, roof repairs, update heating for second apartment (put in a furnace last year for one apartment), just to name a few. 

I am doing a flip right now and we have the same color schemes (gray walls, white kitchen, hardwood floors, gray carpets, white baseboards....) 

Maintenance is expensed in the period incurred, and neither added to the cost basis nor depreciated.In a condo, you typically own an undivided interest in the common areas, plus the air space between your walls.