This number of existing home sales represents just 0.3% of the total number of homes available.

I'm totally a one trick pony @Ellis San Jose !!

First if you depreciate to zero and you sell it subject to an outstanding mortgage you still must recapture the value of the total price including the mortgage amount.

Nothing, I would have to rely on 9 tenants, billing back water and raising rents.Are rents in line with the area?

Honestly, it was totally depressing.

I will say that the total number is Small. 262 isn't much to be mailing to.

Reasoning is that someone getting a loan or "financing" on a home in a park will be at about $250 home and $250 lot for a total payment of about $500 - to be in a park.

But, the only way to protect yourself against those that want to get in your pocket and teach you what they do, to some extent, which could be totally wrong...is to get the basics yourself, know what is usual and customary in your area.

It's a 3 bed/2.5 bath colonial with a pretty open layout (considering it was built in 1969) which would have to go one of 2 ways -1) HELOC it and do a total rehab then list and sell for top dollar, pay off HELOC and use proceeds to fund this "joint venture"2) Sell as is, which is def going to be 50 cents or less on the dollar compared sold comps in the neighborhood (anywhere from 300K to 500K) and use proceeds to fund this "join venture"---> I'd love to hear pros and cons to both of those points <---From an investor perspective - what is the best way I should approach this?

Fielded quite a few calls but haven't talked to too many motivated sellers yet.Anyways, I went on my first appointment w/ seller yesterday he owns a 7 residential unit property with a commercial (business office) unit as well - 8 units total.