Buying Discount Notes on Mobile Homes

[Stefan K.]

My business partner and I tripped across some discount notes on mobile homes sitting in mobile home lot rental parks. We have never purchased discount notes before, our background at this point is in tax liens.

Questions for the note purchasers out there:

1. What are the additional costs of purchasing a note - i.e. recording fees, doc stamps, etc.?

2. What are the risks?

What we've come up with so far:
- Forclosure expenses
- Buyer wrecks mobile home because of foreclosure
- Buyer stops paying lot rent, park owner puts lien on home

What are we missing?

Thanks!