Having worked many of these deals of all shapes and sizes, I recommend you give the above points thought first so you can uncover how intensive of an investment you want this first deal to be.

The next two that I have started are Pitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal Klaff, Oren and Making The Yield: Real Estate Hard Money Lending Uncovered Buscemi, Salvatore M.

Due diligence uncovers something that most everyone agrees makes this a bad investment.I have invested in “3”, “4” and “5” deals.

They don't even have an eviction order at the time of that writing so it could be another 9k as she plays the system.When i read the link that Roy N. posted, the name she gave the landlords was not "NINA WILLIS", so they were given fraudulent identity by Nina; had they done the proper due diligence in performing background checks / screening, that is something that should have become uncovered and thus they would have been able to decline that tenant application regardless of the name used.  

Now, you can buy a policy that just covers the first$5M of value, and leave the rest uncovered.  

With your LLC having a Work Comp policy in place will be default coverage incase there is an uncovered work comp claims on your property by one of the GC's subs.If you do not have an Independent Contractor Agreement that you currently use, let me know. 

Hey @Mike H.As far as uncovering any hidden costs is concerned, I think Sarah D. nailed it on the head by suggesting a more thorough inspection.

My concern is, I'm afraid there's a hidden surprise that would only be uncovered by performing an expensive environmental cert.

Trashy properties are like hidden gems awaiting to be uncovered.

From your description it sounds like this park was pieced together over time and the short cuts that the current owner took will be your price to pay if you dont uncover all the zoning and licensing and lot issues before you close on it.