It is very important to plan a cushion from the start, usually padding the budget and timeline by at least a few months so surprises don’t wipe out the margin.

The biggest expense was building the pad.

Gravel roads need constant grading, and pads must be level and reinforced.

I’m curious — do you share those padded timelines/costs with tenants upfront, or keep them internal as a buffer?  

It is the hotel business, not real estate.I have one pad-split type property, down from 4.  

., mouse/rodent mitigation, recurring plumbing).Portfolio-level contractor relationships.

A simple way to work through it is by getting in more reps: stress test a deal with conservative rent and padded expenses, talk to one lender and one broker this week to see what options are out there, then practice by analyzing five deals a day and aiming to make one offer a week.

.- Avoiding pitfalls: Don’t overleverage, always pad rehab budgets, and keep personal and business finances separate from day one.Done thoughtfully, this path allows you to use your first property as both a financing tool and a learning tool.

RV conversion is not “plug and play.”Make sure you’ve double-checked zoning, utility hookups (water, sewer, electric for each pad), and demand. $700/site sounds reasonable if it’s a high-demand area, but if there are already parks nearby or seasonality hits harder than expected, that income stream could lag.

That includes both the lot purchase, closing cost for the purchase, impact fees, clearing the lot for the pad for construction, and any things need to prep the lot to start the foundation.