I had a furnace that was in good condition but was older and the inspector stated that the heat exchanger could be cracked.  

The rental payments is about $150 / month under market but the gentleman that is leasing is showing pride in ownership and has added granite countertops, refinished the cabinets and built a deck. 

I was wondering if I could get some feedback from seasoned MHP investors on the following potential deal:21 Owner Occupied Lots @ $225-$235 5 Rentals Units @ $295-$365 22 Vacant Lots 1 Stick Built Home Sold on Contract @ $595Average Monthly Income: ~$7,005 which equates to ~$260 per lotGross Income Income: $84,060 Expenses: Landscaping / Maintenance: $8,350 (9.93%) Insurance (liability only): $250 (0.30%) Real Estate Taxes: $8,400 (9.99%) Utilities: $2,700 (3.21%) Administration: $1,800 (2.14%) Waste Management: $4,600 (5.47%) Total Expenses: $26,100 (31.05%) Net Operating Income: $57,960Assuming a 10% Cap rate the value of this property today would be $579,600. 

Some however have lived in homes before and no longer want the responsibility of taking care of all the maintenance issue, some people are just getting older.

You are buying into an older lower income type house to work for cash flow yield.

Mortgage rates have increased in recent weeks, in the midst of the spring home buying season, as the economy has shown signs of improvement.

I am hardly a seasoned investor, but if I can give a little help or info I will try my best. 

Conversely you can buy a C type building where there is more cash flow but you are generally dealing with more issues ( older buildings, flakier tenants, more turnover ).If you live in the property you could rent out 3 and occupy the 4th unit using FHA and putting 3.5% down.If you are purchasing straight as an investment then 20% down is typical.Lenders typically look at annual income from your job or business, 401K, IRA, checking, savings, stocks, equity in property, etc.A high end area a quad might be 100k a door or more so 80k down for instance.    

I would be careful not to purchase a mobile older than 20 years. 

The lower purchase price would result in lower monthly mortgage and property tax payments (~3%).The roof is "double roofed" and not showing any signs of leaking but the older roof is warped and likely would need replaced within a few years.I've never dealt with a roof before - Thanks!