Bianca: We live with our parents.Me: Unfortunately, this won't work out.

If they won't be able to keep up with the rent, they call and work out a moving plan.I've been able to avoid evictions and make reasonable arrangements with most tenants even when I've needed to non-renew leases due to problem behaviors.

Honestly, either the cash out or the HELOC will work out ok.

The tenants if al things are equal could just move down the road and leave your property.If however this is one of the last few remaining properties in the area that has not been converted away from landlord paid utility then it might work out well as the tenants for the area are conditioned to it.

As beautiful as the idea may seem the logistics did not work out.

If you are thinking future appreciation, these parks are even hosting morning yoga events.  

Communication had been very open the whole time and we agreed that when they were able to secure employment we would work out a repayment schedule.

It is extremely important to work out your exit plan for the short term cash before you go into the deal.

Did a 6 month lease, so we can get on a better cycle OR continue with the same tenant if they work out well.

But the entry cost is low and its not a whole lot to lose if it just doesn't work out...so we'll see how this one goes.