Small parks are relatively illiquid and do not appeal to larger buyers, so they trade at high cap rates (15%+).But you have a hundred+ hours of learning to do.  

I hope to do larger multifamilies in the near future and I need to start off one the right foot.

All I can say is that when you have not only transacted a certain kind of asset but also been an owner you have a deeper level of understanding from multiple angles.Cecil it just doesn't sound right for your first investment.I am very experienced and I have been looking at some of these for investments but much larger businesses.

I like to network and like larger groups.  

that will help you A LOT in qualifying for a larger loan.  

These lower end rentals take more time, energy, and funds.

There's a lot of competition from larger complexes offering a free month of rent that compete directly with you for tenants.

Also set up a Reg D private equity fund to raise capital to be able to purchase larger pools and expand our reach.Bob

Thanks in advanceHi Ronald,Great post.My experience has lead me to believe that the best deals can be bought in colder months.There is less competition and larger discounts are granted by sellers.With that being said, a good deal can come along anytime.The key is to have the cash and be able to snap it up instantly.Thanks and have a great day.

I do not invest in flips etc. but I do know with home markets up there is a bunch of larger projects and also retail jobs for contractors.Larger means more steady work for them and retail means more money.People who buy houses to rehab and hold or flip always want something done on the cheap.