I'd say on the water just over lift-bridge but your budget may be a bit shy for that but if you can swing it, on beach side, those places are cash-cows. 

I read that multi-family doesn't compare apple to apple with sfh and there's less purchase demand, so it may appraise less.

Eventually I will look at IRR, but I have to start somewhere to do an apples to apples comparison and CAP rate seems like a good number to compare properties against one another.

If they dont do it right the patch can crack down the line making the steps uneven or even make the planks lift. $1200 does sounds like alot but if it is quality work and it lasts then its just another investment in the property.

Get the horse in front of the apple cart. 

Dave and J did a great job turning apples and oranges into apples to apples.

Make sure the comps are REAL apples to apples).  6) Finally, "I scraped the bottom of the barrel when finding and screening tenants.   

(stabilized that cash flows day 1 versus heavier value-add lifts)-What is their expectation of the lead sponsor during the raise?

Wife owns an accounting firm so all the rents and financials flow through her company to which I pay for.I know there is a general disdain for POH homes for MHP investors but given the narrow specifics on this park we get a huge lift in our NOI while also having a well paid employee who appreciates his position with us.  

I feel a load being lifted.