I’m considering a 1031 exchange and would like feedback from investors who have experience with mobile home parks, particularly smaller, park-owned operations.Current Property (Selling):Duplex purchased in 2021 for approximately $145,000; estimated current value around $210,000\Loan balance: about $90,000Gross rent: $2,400 per monthNOI: approximately $16,000–$18,000 annuallyCash flow after mortgage: around $750–800 per monthLow management requirements and stable tenantsReplacement Property (Under Consideration):Seven-unit mobile home parkAsking price: $395,000Rent: $750 per unit plus $40 for water (total $5,530 per month; $66,360 annually)100% occupied with long-term tenants, several in place four to five yearsAll homes are park-owned, purchased between 2016–2018 with metal roofs and Hardie sidingOwner pays water and sewer (aerobic septic); tenants pay electric and trashMaintenance handled by one individual for $400 per month using personal equipmentGravel road, well maintained; potential to add one or two additional homesMy Pro Forma:Vacancy: 5%Expenses: approximately 40% of effective gross income (includes water, insurance, taxes, maintenance, mowing, etc.)Estimated NOI: $37,800Financing assumption: $255,000 loan at 8% interest, 25-year termAnnual debt service: approximately $23,574Projected cash flow: about $14,250 annually ($1,188 per month)Cap rate: approximately 9.6%Cash-on-cash return: around 10% on $140,000 downDSCR: 1.6 (strong coverage)If the price can be negotiated to the $360,000–$370,000 range, the cash-on-cash return improves to roughly 11–12%.Pros:Consistent, well-maintained units with matching exteriors.

The difference is likely the fees.It depends on how much the equities are making in the 401K and what rate of return you can make with real estate.If you can make 2% more annually with real estate, I will argue that you the extra return will more than cover the penalties and provide you more flexibility with access to your own funds.

If from the MLS, it may be the annual fee, not monthly, or even a typo error ($250/month). 

CategoryAmountPurchase Price$550,000Rehab Budget$185,000Closing Costs$17,000Total Project Cost$752,000Effective Gross Income$168,120Operating Expenses($60,000)NOI$108,120Debt Service($48,852)Annual Cash Flow$59,268Monthly Cash Flow$4,939Cap Rate (on cost)14.4%DSCR2.21Cash-on-Cash Return31.8% Hey @Chad Emerson, welcome to the BP Forum!

I've found buildings with 40-45% (actual) annual expenses when their original marketed/reported expenses were around 25-30%.All the best!

Curious to see what others have found in the KC area and if there are any other companies recommended. 4 plex in Blue Springs - $5,892 annuallyduplex in Independence $2,026 annually

. $1500 rent, $460 HOA fee, $1300 annual taxes.

I submitted my normal annual increase.

The original oil and gas investment proforma projected the following: a $75,000 W-2 tax deduction, a 3x return on investment (approximately 350% over 3–5 years), and an 8–12% annualized return (ARR) paid monthly.While the tax deduction did come through as expected, the actual monthly returns have been significantly lower.

“Core” inflation (excluding food and energy) also slowed to 3% annually, thanks largely to easing shelter costs, which make up over a third of the CPI calculation.📊 Bottom line: This is exactly the type of report the Fed wants to see before lowering rates again.