If they genuinely believe an appraisal is necessary due to the acreage or unique property specifics, they should recommend an appraiser experienced in valuing unimproved land for income-producing properties, to maximize your depreciable assets efficiently.Hope that helps!

Park overview:52 total lotsCurrent mix:5 park-owned homes rented at $700, $700, $700, $650, and $800/month1 rent-to-own unit at $405 + $300 lot rent13 tenant-owned homes paying $300 lot rent4 vacant lots ready for immediate home placementCurrent NOI is approximately $71,500 annually based on trailing performance.Value-add plan:18–24 month stabilization proforma assumes:Lot rent increased to $350 (supported by nearby comps)Infill of ~4 homes per yearLong-term (5-year) outlook:16–33 additional occupied lotsProjected stabilized NOI in the $120k–$140k range, depending on absorption and expensesMy primary goal on the debt side is to structure financing that maximizes monthly cash flow in the first 18–24 months, while still allowing flexibility for a refinance once infill milestones are reached.Questions for the group:For those who have financed similar MHPs, what lenders or loan structures have worked best when prioritizing early cash flow?

Quote from @Levonte Wilson: Hello everyone,I’m currently focused on investing in small multifamily properties—duplexes, triplexes, and fourplexes—and want to learn more about creative financing strategies that allow me to leverage Other People’s Money (OPM) effectively.Specifically, I’m interested in:Financing methods that work best for small multifamily propertiesStrategies to maximize leverage while managing riskReal-world examples of deals using creative finance in the 2–4 unit spaceI’d love to hear from experienced investors about what has worked well for you and any pitfalls to avoid.

By thinking ahead, you can minimize your tax burden and maximize flexibility for future opportunities.Equally important is safeguarding what you’re working so hard to build.

I don’t disagree with the math, and I think your framework is directionally correct when the goal is maximizing returns on deployed capital.Where I think we may be talking past each other is that I’m not making the case that unleveraged real estate outperforms the S&P on a pure return basis.

So I'm just trying to maximize income and taxes for them.  

The smartest approach for long-term buy-and-hold is a hybrid strategy: finance all four properties to maximize leverage and compounding, keep your full $100k as true liquidity (that’s what prevents blowups), and use both the rental cash flow and your salary to aggressively pay down the highest-rate loan first.

This maximizes my rent collected.  

The state of formation and quality of the operating agreement for an LLC drastically impact the amount of protection that the LLC can provide so speaking with an attorney experienced in real estate asset protection is important for maximizing protections and minimizing liability exposure.

Every property we acquire going forward will have to be carefully analyzed  to see how much we want to maximize the depreciation and risk the FFE "loss" on a 1031.