My profit in the last several yrs has come from not owning the properties I sold before they went down.

So, my aim is to buy it ought right, and generate cash in next one or two yrs and then sell it, so I break-even at the very least.

She will probably stay for 10 yrs as there is nothing cheaper in this area (where she works) and surrounding, cheaper areas are marginal.

When sold down comes back to me and rest is split in say 3-5 yrs or more if agreed.

Second thing about condo's which I'm sure has been mentioned is the HOA fees- they are always increasing and its like having a landlord who offers no benefits.Lastly don't forget that you can get the condo foreclosed on by an HOA in an effort to get paid- you can pay the mortgage for the next 30 yrs free and clear and owe $1000 to the HOA and they foreclose.

It's been in my family about 30 yrs so it's not part of our business (we didnt aquire it as part of our business plan) but the profits will provide a huge well to dip into for future business.

A couple questions:Background: 1 1/2 yrs ago we refinanced on a 30 yr that Amortizes in 20 yrs. 5.75%.

I've been hearing that a "wave" is coming for about 3 yrs. now.

Jon,We did this in our early 30's (20 yrs ago).

I should able to sell all day long at the terms i mentioned above so my holding costs wouldn't be more than 2 months max, so I guess the real question I was trying to get at is whether lengthening the terms of the note to say 6 yrs to get a higher sales price outweighs the increased risk of default by a mobile home buyer.