Outside is in fair condition.

The carrier would only offer $1M on the renewal and did not have the ability to offer the previous $3M limit due to market conditions. 

And did the comp have the roof replaced, better condition, bigger units (even if still 2/1's), etc?  

The unit 3bd/1bth is in very good condition, when I said “rehab” I meant to go in there: paint and do a few touch ups to make it rent ready.

You need to look at the actual income and expenses, history of occupancy, location, type and condition of the property.

Everything is in good condition, taxes are low, rent is at $450 per unit.

Let us also assume that the home does not have to be moved, is it a decent location with population, decent size/age/condition, and the parks application process and ethics are normal.When it comes to purchasing a mobile home with or subject to the underlying debt within of a park, it is a bit tricky because in most situations the bank will not allow the owner's name on the title to transfer unless the lien is satisfied.

Based on condition of property and how quickly it sold I am guessing another investor purchased this property with cash?

The Missouri Supreme Court in Ethridge apparently stated that for equitable subrogation to apply, the party against whom the doctrine would be applied (USAA in this case) must have "engaged in fraudulent conduct or committed acts bordering on fraud that created the condition that caused the lender a loss." 226 S.W.3d at 134. 

Hey Mark & David, the appliances that i have are not in very good condition and they need to be serviced.