We got our offer accepted on the house in February of this year on the short sale.

I'm on a fact finding mission to determine the best way to start a new company for short term rentals and trying to determine the best practices to do so.What is known thus far:- I have to have a RE license in order to manage properties for third parties when accepting commissions for bookings.

Also, you get taxed as a short term capital gain which eats up a ton of profits.

I would love to be able to leverage my own equity to finance this project, but short of doing 5 HELOCs, I am unsure of how to proceed.  

Buy/Hold is going to tie up your cash for a long period of time as to where flipping presents a fair amount of risk but offers a much faster return.  

Your's will have to be re calculated and increased accordingly to positively impact your ROI and cap rate.This is where most MHP investors fall far short of the mark.

Sure 30k may appear good, but if in that same period you're paying $35k in debt, you're not actually coming out on top.

@Joseph YoungIn my experience billboards are always included in the NOI number which is then divided by the cap rate to give you a rough estimate of value, so to answer you question in short yes it should be included.At the end of the day, real estate has to be looked at as an investment you're buying today cash flow for tomorrow.

Fact is, the good neighborhoods might not appreciate as much as the fringe speculation plays in the short term but they will retain their value much better in down markets.  

We have had success with short sales but it takes patience.