I’m new so I’m not sure if these numbers are correct but I’ve done generally searches on multiple sites and 55k is about where they all land.

@Bethany Rankin Will site give you property info, even if its not for sale? 

That perceived value can essentially serve as a type of second job if the San Jose market continues to appreciate like it is now. 

Between due diligence, rezoning (if applicable), site plan approval, construction drawing approval, offsite easements, permits, etc. it is a lengthy and expensive proposition.

I could not find the lot marker on that side of the property, but according to him (magically) it's on my side, but yes it serves as a boundary between two properties and it's long and old.

I took the pre license exam and then the test right after my 18th birthday.. flunked first time you were allowed to take it two weeks later in those days passed that time :)  served me well all these years.. not without its ups and downs.. and to me its not work its a lifestyle..

The great thing about BP is you can go back in time and if memory serves me correctly this question has been asked before and people were a lot more positive.

Does the site have access to electrical power, natural gas, town water or sewer?

I believe you can evict now based on the fact the tenant was already served notice by the previous owner but refused to pay or leave. 

@Jeffrey H. ok so here is the numbers from the OM that the broker furnished to me: ESTIMATED LENDER ACQUISITION COST:List price: $1,175,000 ( @ 28 units = $41,964 per site)Buyer requesting Down Payment of 30% = $352,500Projected Lender Financing: $792,500 @ 5% FIXED 30 year AMORT with a 10 year DUEINCOME, EXPENSES & CASH FLOW:Actual 2016 Gross: $212,752Actual 2016 Expenses: $95,915 (45%)Actual 2016 NOI: $116,837Projected Lender Debt Service: $57,494Projected Net Cash Flow: $59,343FINANCIAL INDICATORS:Cap Rate: 9.16%Projected Total Cash Return: 18.96%PROPERTY DETAILS:All age park28 Homesites# of Park Owned Homes: 28 (100%)Occupancy: 100%Utility Reimbursements: NO2016 INCOME AND EXPENSE ANALYSIS:Total Net Rent: $212,752Total Operating Income: 212,752Real Estate Taxes: 4,054Property Insurance: 5,524Utilities ( all lumped into one total, broker and/or seller did not offer it broken down individually ..yet): 30,658 Payroll & Benefits: 26,225Maintenance & Repairs: 2,058Administrative/ Office: $26,668Advertising & Promotion: 728Total Operating Expenses (45%): $95,915--------------------------------------------------------------------------------------Net Operating Income: $116,837The screen shot copy of the rent roll excel sheet i am waiting on further explanation from broker in order to determine how to interpret all the acronyms that the seller put in it so i can begin to figure out the rent roll for that month.