Obviously you need to check out the comps or get some type of appraisal on the house that was drawn up to be built.

End result it seems we are getting the upset price of 236k, so not a total disaster , but still a far cry away from the 100k per year NET I would be getting or sales price of 600k or more.   

I totally agree with you @Nathan G. , I've been trying to do that here in NY, but it's really tough.

Again this parcel will not have any road frontage.The county that this park is in has a population under 100K and the city has under 10K of that total.

Add at least a 10% contingency of total project cost so if overage occurs you will be prepared to handle the unexpected. 

I use the entire $1480 plus $500 for a total payment around $1800 with allot going towards principal.

Obviously someone is happy to invest their money on a fixed up property with lower cap rate. 2.

You should totally jump in and house hack!

Total of 60 units in both buildings.

So with that, I leave most of my rehab cash in the property (40k) for the next 6 months. or2) Purchase the property using private/HML - lets say at 40K and $40K rehab - total all in is $80k (not including lender fees + closing fees).