I wanted to reach out for additional feedback on a retirement or soft FI strategy I’m helping someone think through.My friend’s dad, who lives in Sacramento, wants to retire but currently doesn’t see a clear path with his 401(k) or other investments.

These would be added to 'Additional Photos' in the listing. 

They had to come back a couple of times under the guaranteed to seal additional places, but now its been a long time since any mice have gotten into the house. 

If not, the appraiser may just call it finished square footage, not an additional bedroom.

But a word of caution: When you calculate your equity needs consider funds necessary to advance construction in addition to the down payment and interest payments. 

You can also negotiate with the current owner/landlord to close upon their departure, or an additional escrow holdback predicated on no damages upon tenant departure. 

They blew up our loan with 2.5 weeks to go by not properly disclosing fees, the broker was hard to reach, didn't get info to us as he should have and at the end was going to charge additional fees for a return trip appraisal because of their own error in not disclosing the lender requirements for the appraisal. 

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.

After informing the other lenders that I had made a decision not to go with them, they came back with additional information.

You can 'follow' certain locations which means that BP will alert you anytime someone in New Jersey (for example) writes a forum post.In addition to following locations, I'd recommend looking into the house hack strategy.Lastly, set up keyword alerts for any topics that you become interested in.