Posted by Glenn (MI) on May 22, 2008 at 09:31:38:
$90 mo for lot rent? That’s unheard of around here, even rural. $350-$449 mo is the average lot rent going around my neck of the woods in mid-Michigan.
By the time you collect your $200 mo note + the tenants $400 lot rent your looking at $600 mo. That’s a house payment with a yard and garage and maybe a white picket fence.