@Nathan G. As

If not, your neighbor's roof could be leaking and causing issues in YOUR walls/ceilings.For me, having control over repairs and cash flow are very important, but there is more self discipline in budgeting for potential capex items, that could be covered in the HOA. 

The house it's in has natural gas.

.-40 MH lots-8 RV lots-city water/sewer billed back to tenants-individual gas/electric meters direct billed to tenant-30 occupied MH’s with 22 of the homes with notes, lot rent $395-3 RV’s on MH lots at $300, tenants pay all utilities-8 RV’s with lot rent of $300, long term and tenants pay utilities-7 vacant MH padsAgain, the seller has basically no financials.

Fairly new member (officially a couple weeks now) I can’t find it now but I know for certain it said section 4 (hadn’t just dreamed it up)I’ve been investigating this property for a small while description of the property:Commercial-officeZoned R2 multi family Almost $300kSays “structurally sound but need tlc”Been on the market for a few years19593000 square foot 2 tenants at “market rent” on the top floor And a good reviews flower shop on the ground floor I don’t know the sq ft of the parking lotMaybe 5-12 lined spaces or soHigh volume traffic area most days pre covid-19Walking/biking distance to food, gold gym, gas stations, couple banks, grocery store etc. pretty close to main part of town which has a lot more local amenities.Looks to be an REOMy grandfather said that he had a conversation with the lady that runs the shop a few years ago and that she said wanted to buy the building but she didn’t have near enough money to do so.I called about 13 days ago to see If I could pick up a part time day job (second job) left my Information I have a follow up call in almost a week see I can work some birthday magic.I want to meet the place specifically her to see what she says about the place potentially see is she’ll be willing to partner I’m sure there has to be value adds, updating electrical, something has be possible to make the numbers work Last but not least, what is section 4 housing?

It is a 3/1 in a nice neighborhood, 1025 sq/ft, great curb appeal, privacy fenced in back yard, and a roof leak. 

So I have at least a month to make a final decision.Purchase price negotiated - $300KCurrent Monthly Income - $8200 28 units in total, broken down below:20 Trailer Pads - 17 Trailers currently on the property (landlord owns all trailers, and leases them to tenants)4 free standing cabins3 unit apartment 1 single family home - landlord does not charge rent to the tenants, as they are the onsite "management" who help collect rents, do minor maintenance repairs, etc1 storage building on siteThe current rents range from 325-475 with tenant paid electric and gas, and I believe that many of existing tenants are on government assistance (not section 8).  

Or at the very least, (1) consider getting a loan to cover these expenses and/or (2) be mindful of these unexpected costs throughout the project.Pre-Deal Marketing fees, training, learning market, travel time including gas mileage, costs for purchasing legal forms & contracts, fees to start an LLC After Rehab Deal is Accepted HML origination fee, HML points, Buyer closing costs, down payment, title company, local taxes (transfer tax, prorated property tax,etc) After Buyer Closing Dumpster rental & permit from town, buiilding permit for construction, monthly holding costs to pay back HML, homeowners insurance, repair expenses prior to being reimbursed from HML, Marketing fees to promote 'coming soon', dream team fees such as CPA, attorney, and fees to pay for the SOW inspection Seller closingSeller contributions, agent commissions, prorated property taxes, title company, attorney fees 

But what about plumbing leaks?

For our Florida properties, there's a statement about Radon gas required, and there you have to pay the tenant 75% of interest earned on their security deposit annually.