If you can sell the homes for 20k each, that is a value of $460,000 for the homes, resulting in you having paid $840,000 for the park, meaning $66,240 / $840,000 = 7.8% cap rate for the parkIf you plan to keep all the homes as park owned rentals, your expenses will be a lot higher, your tenant turnover will be a lot higher, and you lose all the powerful benefits of MHPs.  

Not starting is worse than losing money.

You 'lose' money on the sale through closing costs.

-Bodie

You win some you lose some! 

No matter how much automation you get set up something is going to pop up that you didn't plan for.This person just has to be a warm body that you can have go onsite and report information to you.

I was looking for a starter property where not a lot of cash was at stake and I could potentially make some mistakes while not losing a fortune.

This way you don't "lose" the home you want while waiting for the heloc to become available.

The vehicle loses a ton of value in the first 3-5 years.

This would make your correct CF's:Actual = $18k - $18.7 = -$0.7k/year...as in losing money every year.