Comparable sales (total of 7) came in at $132K. $5K in updates would wash profit to be equivalent to this potential wholesale profit.Potential Plan C: Rent it..

I don't really think there's "average" or "advanced" categories, and it's not necessarily the number of deals.I don't think it's helpful to compare yourself to other people.  

While owning a properly run manufactured housing land lease community can be and normally is a cash cow when compared to other forms of commercial real estate, properly running it requires knowledge, hard work, and some intelligence. 

But I did like the taxes down there compared to here. :-)And I would agree that real estate is the best investment vehicle there is - albeit it does require quite a bit more effort than the rest though.

It works if you buy low enough compared to the properties market value. 

Hi @Michael Cutting, great questions and it sounds like you have a potentially exciting opportunity.I am going to have a slightly different opinion compared to @Rob Beland.I agree about being able to require them to sign leases.  

The challenge @ this price point is the variation between the low comparables & the high comparables.  

Assuming your land is as-of-right or approved for the project you are going to develop, you will then need to think about construction costs, soft costs, and financing costs, revenue your project will generate and compare that to the market.

I've never done it before but for a starting point figure out what the investor's minimum rate of return (how it compares to a bank, CD, or stocks).

If anything, this will allow you to compare your mortgage person to his/her.