Hi all,I was recently introduced to a real estate investment opportunity by an old friend (who claims to be a gap funder/broker).He introduced me to a partner of his who claimed he had access to portable mobile home units across the country and in which case I could invest in each rental property for an investment of $10-15k each and receive a residual passive income of approximately $2.5k/month.The deal would be a completely turn-key investment, as I would own the note on the mobile unit, and I would not have to do any maintenance, etc as a normal landlord would.Everything sounded great on paper, but here's where a got overly suspicious:1) The one-page, loosely written contract he provided did not disclose any address or rental property infornation, nor were there any lease/loan terms or agreements set forth.2) The urgency to close the deal.

@taylorbrugna - I think is the simplest way to show money in when received and out when invoice is paid out.The issue that we have run into doing that is sometimes there are more charges in a given month due to the billing dates.Let's say the June mowing bill came the last week of the month and was paid in June also we then show double the normal cost in June and then we have explain why we had an increase in mowing.

My question is, normally I am a buy and hold guy, however the numbers are making me question what I should do.

@Candace Postell,The attorney should be able to handle everything since you don't need marketing or any of the stuff an agent normally does.There's a lot of misconception about what agents do.

Normal laundry machines can be bought less expensive. 

I normally bank with DCU but they will only go up to 80% combined ltv

depends on the market... some markets were your dealing in low value assets .. then wholesalers are pretty much your go to folks as agents don't want to work neighborhoods that are that dangerous or values so low.in higher value areas.. wholesalers from what I see will normally take all the meat out of the deals.. and or simply are new and don't understand how to value a property and certainly have no clue as to what rehab costs.. so its a time suck generally speaking.

Is it normal to have the water bill and the HOA on a single account that the HOA management company uses for accounting purposes?  

Optimize for the best deal on the finance side for sure.The trick is that convention loans will normally not be approved if the property cannot be occupied & insured.

Many things play into the national economy and global economy, real estate being one slice of a very big pie.