This is what I hear from podcasts, but what do these expenses consist of?

I suggest asking for proof that they've been paying their rent on time and for a full accounting of all expenses at the property.  

@Felix L PerezThere is a lot to explain, so probably you should get with a tax accountant.The short answer is: expenses specifically related to this property (purchase, rehab, holding costs etc.) should be shelved until next year and deducted against the sale price.

They are notorious for sending out teaser bids when the actual reserve is significantly higher.We did all our own title searches - just got to be too expensive with all the houses coming to auction. 

Also for rehabs, what software do you use to track expenses related to type of work completed (electrical, plumbing, etc), and what features have been important to you in your business to analyze historical expenses on rehabs?

On the surface, it looks like a great deal, but I would dig a little deeper.Personally, I don't like a 50% estimate for expenses. 

Also, moving a mobile home can be expensive ($3k) or a total loss if an older one breaks up during the move.  

So, if your Self Directed IRA is 75% partner with another entity, then it must collect 75% of the profit (rental income, sold gains, etc), it must also contribute 75% of the expenses (rehab, insurance, taxes, etc).I am not sure about loaning to a partner. 

You will spend around half of your rental income on the maintenance, taxes and operating expenses of the property.

What would be the best percentage to use when analyzing income,expense,prop value increase?