Mobile Home Park Lender or Accredited Inv

[David Benton]

I'm looking at a MHP with 14 pads and another 6 spaces. Only 9 of the 14 pads are rented currently. The property also has a restaurant, general store and small warehouse on the property that are all in good condition but not producing any income (currently closed). 

The analysis shows the property cash flows at 80% LTV at 5% interest, DSCR 130% and at a pp of $360k which it looks like the seller is willing to accept. I don't like tying up property unless I can close.

One question is a lender that does a loan like this. The lender I deal with won't do less than a $750k loan and this would require a bridge loan at 65% LTV even if they would do the loan.

The other question is how to attract an accredited investor as a 50/50 or a PML on this?