Originally posted by @Jan Styrczula:@Antoine MartelThank you, He basically said that he’ll take care of the rehab part since he does it all the time, and I only have to put up my money, does that make sense to him to make “only” 50 %, is that how it’s done? 

Originally posted by @John Jackson:Ahhhh....Fee Simple Title....I can't tell you how many attorney's I've had to educate on what fee simple title is. 

Originally posted by @David Cruice:When you say "locks to the entrance door", which lock(s) are you referring to? 

What due diligence is necessary when taking over a property with existing tenants?

However pending the condition of park owned mobile homes and existing pads/utilities I think this has a lot of upside due to location and a growing city. 

Originally posted by @Guac F.

We used hard money. 10% and 3.5 origination points.

Jose,Here is a list of "hidden costs" that may surprise you if you haven't been through this before:Closing costs when you purchase the propertyTitle Insurance Policies for you (and the lender if there is one)Miscellaneous closing fee's (survey, recording, etc)Loan origination feesHolding costs (during the time that you own the property)Builders risk and Liability insurance policy premiumsProperty taxesHOA feesUtility usage chargesBuilding permit costsDumpster / hauling chargesLoan interestClosing costs when you sell the propertyStaging (if applicable)Realtors feeClosing costs (depending on where the property is, this could be a huge cost) Professional fees for accounting, legal and taxesCapital gains tax on your profitI hope this helps you, and good luck!

That will depend on whether the tenants have existing long term leases and what your state laws require for notice. 

Originally posted by @Ken Virzi:@Ben Leybovich Well even the webinars and BP calculators are all using pure percentages 🤷🏽♂️ HAHAH What does that tell you?