How to compare returns + make critical investment choices
Team - I could use your help! I'm evaluating a number of different real-estate investment decisions and am trying to figure out what is the best indicator of returns that I should use to make "apples to apples" comparisons and prioritize my investment choices based on those returns.
I'm currently doing some residential real estate work with a friend (buy/demo old homes, build new ones, sell them). I'm also looking at:
1) A fund that buys residential mortgages
2) A fund that buys apartment buildings
3) A fund that buys mobile home parks
4) A condo in Mexico (for rental, not personal use)
5) Buying my own mobile home park
So do I use ROI? But then how do I account for the depreciation benefit that I would get if I purchased a mobile home park (this latter point is confusing to me, and the key driver of this post)? Do I use a measure that accounts for taxes, such as Cash Flow After Taxes? Should I look at CFAT/purchase price as a return measure of some sort?
Thanks in advance for your advice!