Also, I don’t have a crystal ball and I can’t say for certain what rents will do in the next 15 years. 

I am ready to put in the time, work, and money, I just need some guidance to get the ball rolling. 

So if the park is in a 6% cap market, you would divide the NOI by .06 and that would give you the ball park value of the park.This formula is extremely generic and will only tell you if the price expectation from the seller is in range or not.

@Tyler Jones, welcome to BP and congrats on getting the ball rolling....even if only in the zygote stage right now! 

Some basic questions:Do you own your own home with Equity - If yes you could tap into that with a cash out refinance to add to the $10KHave you considered buying a second home if you do own a home less money down (10%) which can still be used as a rental 6 months out of the year or after 6 month just convert to a full time rental.Have you been pre-approved or had a bank/lender review your income and credit to see if you can get a mortgage on either option.Once you buy a home investment or secondary you can always take out a line of credit to do renovations/repairs etc.In order to get the ball rolling I would advise on the above options to get your next (90) days mapped out.

I was 6 yrs old so my help was limited to giving my dad the wrong tools.Personally, I don't think you need to know everything, but understanding basic construction process, ball parking costs, and finding or having good contractors all helps the process.  

@ Ann - It does seem like you PrM dropped the ball.

Obviously nobody has a crystal ball, and even the best predictions are subject to black swan events (as this past year has proven). 

It's great to get the ball rolling early, so best of luck to you in your investing career

We spotted this home with a pole barn in the dead of winter, in the neighborhood we were moving to, did some comps and made a low-ball offer.