Oh then she tells me they are "Air Tight Home Improvements" in my area.

@Carlos......looking at the 50 -75 unit range to start.My wife was an apartment manager for about 15yrs, but has been out of the field for about the last 5.She was a bit of a turnaround specialist...improving the NOI for other investors on many different properties in the 250 - 500 unit range, so we feel that we have a decent grasp on the management side.

I didn't quite catch it, but is this just vacant/bare land with a shed on it, or is there a building or any improvements on it?

Wouldn't this be considered a capital improvement?

I'm glad you're realizing that you need to think about what you were doing wrong and improve, but simply heading for Jacksonville isn't the magic bullet - if you can't find good deals and buyers on your home turf, what makes you think you can find them elsewhere?

We lent $525,000, the borrower put down $100,000 plus an additional $125,000 to improve the park, the seller carried back the rest in a second.

Then do whatever you need to, to get it to it's highest potential (without over-improving) and cash out refinance and you should get most if not all of your cash out to do that again as many times as your lender will allow.

I guess the question is, how much value do I put on the improved MH lots?

Make no promises but let them know you are interested in keeping the place up and and may consider improvements.

I wasted some time, but fortunately I still got a new renter for the vacancy without costing me any money.Also, I know I've been over-improving my SFRs for rental purposes.