After 12 months, possibly sooner, he is going to have $5k in profit from the refinance and a property cash flowing $270/month after property management fees are taken out.

With that said now it is time to quickly and potentially get this property sold to an interested buyer for a win-win price.Keep in mind that the state of California will want you to be a mobile home dealer, retailer, broker, or real estate agent if you plan on making a profit with a mobile home, even in a park.

As a general rule, you want to Assign the contract if the profit spread between the price you have it under contract for and the amount the end buyer is willing to pay is less than 10% or $10,000.What is a reasonable price to expect the end buyer to pay? 

Hi Claire,I've been doing this since 87 and here's what I see.Duplexes usually do not have 50% expenses, usually less.If there is no air, you might want to get some quotes and see if you could finance the AC, I think without central Air in Fort Worth you might not get the $1,000 a month.To me your income is tight, for sfh I like a minimum of $3600 net profit a year, duplex $6,000, Tri and quad I'd like to see $2,400 out of each unit.I like to use http://www.*******************.com to give me a pretty good idea of the value.It appears to me that you are making $83 a month per side.

@Ryan GroeneNot sure the type of waste treatment,it looks like a concrete pond in a fenced off areaLooking at the profit and loss statements for the past 3 yrs the park total expenses avg 387.00 per month That’s water/sewage and trash pick up , trash is 125.00 per month so I don’t really see the big expense I understand IF the system goes bad it would be expensive but it’s 10 yrs old so I Assume it has some Longevity left

With respect to purchasing property through your Canadian corporation certainly you can do so, but any income earned by the US property would be subject to US branch profits tax in addition to the FIRPTA requirements Chad mentioned previously.

The bank is asking $92,000 but if I can get it for $75,000 or less it would be a profitable deal.

Many investors report just the $20k profit.

After moving around a lot, we now live in the Enterprise/Dothan AL area.

We performed very well for them, but as I stated previously they have experience with us in the first lien position.To make up for the increased risk, I had also considered adding points, increasing the interest or even cutting them in on a small percentage of the profits in addition to any interest.I just want to do right by them as they have already told us they are in for more deals, but I was thinking that we couldn't be the first ones to ever be in this situation and was wondering if there was anything that was sort of the standard.We can provide the cash ourselves, and maybe we should, but I have the cost of funds figured into the deal and we still come out incredibly well on margin, so the preference is just to pay for the use of someone else's money.