It’s great to hear how low vacancy rates are and that there aren’t any hidden taxes or additional fees in the area.

Are there any other hidden costs?

I am also biased towards the Hampton Roads area over Richmond.I grew up in Hampton Roads and know that market fairly better than I do about Richmond (I didn’t spend too much personal time there).Hampton Roads does have a lot of little gems.

From the lush green landscaped courtyards with water features, to the ample open-air dining spots and the intimate outdoor fire pit, Plant 51 is a hidden gem tucked away in the heart of Silicon Valley and downtown San Jose.Plant 51 is a secured building with secured parking.

That is where the gems and investment opportunities are. 

: Is this foundation issue enough to walk away from what seems to be a gem?

It is a town with many hidden gems, property wise and other wise.I currently invest in Grand Rapids, Holland, and Kalamazoo, MI, all of which are fantastic markets in terms of cash flow, vacancy rates, overall stability, low unemployment and population growth.

. : )I find some developers build cheap boxes and backfill with crappy tenants and leases and then try to sell it off as a gem to an unsophisticated buyer.

There are a lot of hidden costs behind mobile homes, its not just a situation where you place a mobile home on a residential lot (zoning, utilities and costs)

In either event, understand you will need capital to clean up all the deferred maintenance.I personally wouldn’t move forward because of not only the current problems, but the hidden issues that have yet to be uncovered.To your success!