Once you get rolling you can always tweak and adjust it to meet the needs of the market. 

So yes, non-recourse loan is a must to keep the sharks from totally devouring you.More important than asset Class or Type is investing in an area with a diverse, robust economy and a reasonably mild climate. 

Are you in the section of town where people want climate controlled storage for their painstakingly restored 1969 Mustang Shelby GT, or are you on the developing side of town where contractors just want a place to store excess building material in a box? 

The biggest lesson learned was be open to adjusting your plan when the circumstances present a better opportunity.

Just keep in mind that a HELOC has an adjustable rate.

@Silvius GrantThis will be my first flip however, I'm an independant Insurance Adjuster, I use Xactimate like the contractors it's gives me a more accurate scope of work.

You don't adjust up just because the market is hot.  

And by looking at how much these comps sold for -- and then adjusting those values based on differences between your property and the comps -- you can get an idea of what your property will be worth after renovation.

This will allow you the flexibility to keep the lease and adjust with an amendment if you change PM's.

Average $671/mo-$1128006 Vacant LotsTotal $130,500The expenses that were presented seemed to be quite low to me so I have adjusted them by about 25% after doing some background work and calling local vendors that are familiar with the park.$37,500 Am I missing anything when evaluating the property?