Here are my numbers that I was going to add to my Zillow Listing (the potential investor would pay me the $450k purchase price), hopefully this makes sense to you...Best Case Cash On Cash Return: Convert Back To Single Family Home$450 purchase price + 250k conversation for a $700k Total InvestmentSell $1.2 million (architect's estimate)500k Net Annual Income500k/700k = 71% Cash On Cash ReturnCurrent Case Cash On Cash Return: Continue As A 3 Flat Rental$450 Purchase Price25% down is $112,500Annual Net Income is $12k12k/112.5k= 10.69% Cash On Cash Return(could be 13 to 14 % if you raise rents to market value)Here is the actual property:  400 S.

If possible, I would like to get some hands on experience in financial structuring and raising capital on the equity side as well.Within the next 5 years, my goal is to have a major hand in managing aqusitions for a primary or even subsidiary account of MF properties under the management of a RE fund.

I emailed an investor and the East Coast Real Estate Investors Association (no word back from any just yet) so that I can raise the funds to get the money down.

The follow criteria is what the park is consisted of:Rent control all age park with pool 33 space filled - rents range from $321-$7002 POH renting at $850, electricity sub metered 1 empty lot (might not be permitted for extra 3) On Septic (2x a year) and Well (370 ft deep send sample out once a yr) sitting on 4 acrescan only raise rents 2% every Dec20-21k gross per month/ 25% cost of utilities -- 900k left on noteNOI might roughly be around 170-180k

@Dave Nixon Interesting you picked up on this...small town churches are dropping like flies...I manage large capital improvement projects on institutions...just keep in mind that you'll be working with a lot of different entities, including an architect/designer, engineer, industrial compliance...likely other entities from the government and/or municipality...lots of moving parts.You should be aware of Asbestos abatement and concerns like underground storage tanks...which are very common in all these buildings you are referencing...design and abatement fees may run hundreds of thousands of dollars before the project even starts...Not saying you can't pull it off, just be aware...good luck! 

The seller has told them they can stay but I need them out to do the rehab and raise the rents.Thank you,Mike Evans

I have not been able to raise rent at all because they have a moratorium in place, and now more even so with all the cuts to social programs.Now I am getting hit with more real estate taxes.

The goal is often common as to buy one at below market price with an opportunity to add value, raise rents, reduce expenses (increase NOI/Reposition it) and sell (or re-fi) within 5-7 years based on loan terms and exit strategy.

I called the tenant and we had a conversation and she understands she is legally bound to the lease, she is also aware of the clause in the lease that states should the lease be broken there will be a financial penalty.

My wife and I decided to raise requested rent on both sides of the duplex to $1025 and $1125 per month (plus $25 pet rent, based on experience with pets so far) and still generated plenty of interest.