What you actually receive
This is a real structure with a real arithmetic pattern, filled with the standard example from my calculator. Every line shows its source, and the lines I could not source say UNKNOWN.
Deal sheet
Manufactured home — Lamar County, TX
Prepared by Sims Investment Management Services LLC
The property
Type
Manufactured home, 3/2, on owned land
Drive-out and county record
County
Lamar County, TX
Parcel ID withheld in this sample
Address
Withheld — sample sheet
—
Condition
Occupied, dated finishes, roof not inspected
My own inspection
Independent value
UNKNOWN
No comparable sales pulled yet
Price and terms
Price
$110,000
Seller asking, agreed in writing
Down at close
$0
Seller agreed
Deferred down
$5,000 at month 6, $5,000 at month 12
Seller-financed in the contract
Balance financed
$100,000
Price less total down
Interest
0% — principal-only payment
Negotiated: price for terms
Amortisation
240 months (20 years)
Negotiated
Balloon
None
Negotiated
Monthly payment
$416.67
$100,000 ÷ 240
Liens and taxes
Existing mortgage
None — seller owns free and clear
Title commitment, dated
Other liens
None found
County clerk search
Taxes
UNKNOWN
Tax certificate ordered, not received
HOA
$0
None on this parcel
Income and expenses
Rent
$1,650 / mo
Signed lease, tenant in place
Occupancy
100% — tenant in place
Lease in hand
Insurance
$150 / mo
Quoted by carrier, policy form pending
Reserves
$275 / mo
My assumption, labelled as such
Management
$0
Self-managed
The working
Outputs
Nothing out of pocket at closing.
Payment plus the lines above it.
Rent less the stack.
Nothing invested — the return is undefined, not infinite.
There is no capital to recover.
What I could not verify
- Independent value — no comparable sales pulled, so no equity claim is made.
- Taxes — certificate ordered from the county, not yet received.
- Roof and septic — not inspected; priced into the reserves line, not into the price.
- Title — commitment in hand for the mortgage; full search pending.
Check this sheet yourself
Open the calculator, load the $110k example, and compare. The stack comes out at $841.67 and the net cash flow at $808.33 — and it will refuse the cash-on-cash line for the same reason I have: nothing went in.
This is a structure example, not an offer. Sims Investment Management Services LLC is not a licensed real estate broker, agent or attorney. Verify every number against the source documents, and use your own attorney and title company.