I really want to get into this house - it does have mold damage to it, but I think that that will be my bargainingt tool with the bank to bring it to living stature.

If it is a neighbors tub leaking, they would generally be responsible for repairing damage to your unit.

Some of the bills you need to pay out of the first 50% include: taxes, insurance, maintenance, vacancy, damage caused by angry tenants, legal, office supplies, water, utilities, etc.

Hiring a 3rd party PM company without intimate knowledge of parks is a recipe for brain damage.

If you do own free and clear and are interested in seller financing, which seems to be what they are asking for, figure out a down payment requirement that would ease your mind if you have to take the house back from non-payment, high enough to cover any damages they've caused in the meantime.  

Here's my take on one element of his advice: I've lost out on some great properties because I held fast to my number, which may have been less than $10k off of the number they wanted.

Ask me how I know this.So I can't tell you exactly what a cycle will look like, but I can tell you they are painful and some element of the above factors will be at play. 

I specialize in these areas and see the damage done to out-of-state investors firsthand. 

Take what you can from that and figure out how to make elements of it work for you.

Have a possible wholesale deal and need help with evaluating repairs and what to offer seller.House was built in 20024 Beds, 3 Baths 2,300 sq feet6100 sq ft lotComps around $350k Outdated with wood floors, gold fixtures, and yellow walls but no major damage.