Hey guys,So to the sleuths here - I smell a rat but I can't figure out where it is - I have "stumbled" across a 2-park package deal - a "pocket listing" e-mailed to me be a broker I have not done business with, but who lists (and claims to sell) a lot of parks in the mid-west.Details: 200 pads total, paved roads, 95% occupied at both parks, city water/sewer, tenants pay all utilities including trash, and ZERO park owned homes in the two parks (no, not even any notes - so claims the broker anyway).Rents are extremely low ($160 at the suburban park and $135 at the more rural one) and have been raised only once in the 10 years the seller has owned the parks (6 months ago).Location: Park one has over 100 pads in a city of about 30,000 people 40 minutes from a metro of almost 1 million, unemployment rate very low, population growing, located directly next to many good businesses.

If you're living there as a primary residence, you won't be able to deduct repairs made during the period you're living there as a Schedule E - it's not a rental property then.

Welcome to BP @Erik E..

Buying at a level where an E-5-6 or O-1-2 can afford the rent has worked well for us, and that has been a part of our investing strategy. 

When a borrower has a history of receiving rental income from the subject property since the previous tax year, the borrower must provide most recent Federal Tax Returns, including IRS Schedule E, covering the previous two (2) yearsCalculating Effective Rental Income � Any net rental income from the subject property must be added to the borrower’s qualifying gross monthly income after averaging the reported net rental income/loss reflected on Schedule E of the tax returns.� When calculating the average net rental income/loss, any depreciation, mortgage interest, taxes, insurance, and HOA dues reflected for the subject property may be added back to the net income/loss.� If the borrower has owned the subject property for less than 2 years, rental income/loss must be annualized for the length of time the property has been owned.

Exit strategy may be to stay longer if I get promoted at my job, or to leave and rent the place if the property is appraised low. 

It is at 6:30 pm at the Huddle (Ft union Blvd and about 2600 E. ) in Cottonwood Heights. 

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe 10X RuleThe E-MythThe 4 Hour Work WeekBiggerPocketsPodCast -I hear #136 is exceptional!

I have a network of buyers to which I e-mail the listing, I don't market these properties to the public.

@Bob E.