Also, he expects to generate a 15% IRR, which definitely beats much of what you can get from the market over the same period without taking on a high amount of risk.

Aerobic septic system may require periodic service and oversight Small scale (seven units) limits economies of scaleQuestion:Would you trade a stable, low-maintenance duplex for a seven-unit, park-owned mobile home park with these numbers if:The financials can be verified, The purchase price is brought down to around $360,000–$370,000, and You already have local maintenance support?

But if there’s any uncertainty about timing, I’d lean toward a bridge loan or even negotiating a rent-back period after selling, just to keep things flexible.If you have enough equity in your current home, the HELOC gives you the freedom to move forward without rushing the sale and since interest is only paid on what you use, it keeps things manageable during the overlap period.The only thing to watch is timing and market conditions.

.✔️ Treat this like a business acquisition, not a house hackUse SBA financing if appropriate.Budget for staff BEFORE you project revenue.Plan for a 6–12 month ramp period.

Cap rates have gone from 3.37% to 5.18% over the same time period.

I haven't been able to respond this much in a short period of time. 

Also ask them what they did with the tenant's deposit-that should be used to offset some of those costs.They can cause a lot of damage in a short period of time, but what was the condition of the unit when you bought it? 

It also helps you react quickly while still keeping your contingencies in place.Regarding the tenant, keeping them in place for a short period can definitely reduce holding pressure but it’s important to weigh that against renovation timing.

Definitely want to make sure they are full service, do periodic walk throughs, and have a solid Owner Portal.

If not, yes they are responsible for rent until you get it rented (but you must do your best to get someone in quickly to minimize the vacancy period).