Especially, if you can refi at only 80% LTV.Run the numbers each way, being careful to think about what expenses change (as a percentage) depending on the situation.

As far as brokerage costs and commission splits, there is a full spectrum of compensation plans - from paying a few bucks a month in office dues and a flat fee for each transaction you close, to percentage splits on commission that range from 50/50 to 95/5.Getting your real estate license is a serious investment in your profession, and should be viewed as such.

I see, so those are not two different cap-ex for different points in the investment timeline but rather two different situations - One that considers the actual life left in major systems and one that just utilizes a standard percentage?

What percentage of their business is made up of investors?

On a percentage analysis I use 5%.Capex the replacing of things that wear out.

We have found that a percentage of local/regional banks have a strong appetite for parks and if a relationship is build over time with a good park operator, terms can be better than you would find elsewhere. 

Have you heard of coaching where they get a percentage of the deal? 

Use that as your ratio to determine what percentage of your purchase value to depreciateAny capital improvements that increase the value of the property should be depreciated.

For example, states without income tax have, in general, higher property tax and therefore a higher percentage of rent goes to property tax. 

A very low percentage actually stay and purchase the house so it is usually a damn good deal for the owner through the deposit, the monthly spread on the lease, and maybe on the purchase that is more than their equity at that time, and the spread on the financing which is usually above his loan if it goes this way.