MHU will proffer only the TOH type of park (less hassles, easier to manage, etc) but there is potentially bigger returns if you are willing to deal with POH rentals.  

I successfully invested in a couple of NPNs on my own using many of the people he recommended so it seemed that his method had potential to be successful.

For all three clients the emphasis was on a second family vacation home with the ability to offset costs through STR.

Have you considered the added cost for this restriction?

Specifically, I'm thinking about getting properties which ideally satisfy the 2% rule or at least are significantly above the 1% rule (ratio of monthly rent to purchase price + renovation cost).Given these goals and the fact that my constraints, I have the following questions:a) Which markets are best to look at ?

Do you think the cost of the build will work out as you expect?

Keep in mind, taxes and insurance costs in California are higher than a lot of areas.

If you are doing delayed financing the loan would be based on LTC (loan to cost) and you would be getting purchase rates.

If you manage it and screw something up, you'll cost him a lot of money and you'll lose the friendship.

Everyone seems to talk about including the costs of the new mortgage, taxes, insurance, maintenance & capital reserves, and the vacancy projections when looking at realistic cashflow, which we already do for all the properties in our rental portfolio.But we, like many, cant find properties that are making any cashflow sense right now.