I can get a 1/2 gallon of milk at 7-11 for 3.00 or I can go to Walmart and get a gallon for 4.00Your model is predicated upon what and where you buy.

Milk that $100k market!

@Matt Skog if this has 95 occupied pads and a lot rent of $475 per month then this park is worth closer to 2.75 or 3.0 Million on the surface or more as it sits.  95 Pads * 475 lot rent * 12 months * 0.6 (40% expense ratio) * 10 capitalization rate = ~ 3.25 MMIf you can pick it up for 1 Million then you why not just milk the thing as it sits for the perpetual income, why the redevelopment headache for a one time payoff?  

Start with Mr. money mustache for lifestyle frugality.  

Go get a nice condo or apartment somewhere, instead of milking this for all it's worth ... which is apparently only $670,000.

He probably knew for some time that he was spiraling the drain, so was likely milking the cash flow while not paying the lender, not turning units as they became vacant, not servicing or replacing old mechanicals, etc., just as you suggested.

Breast milk.

Tenants are smart and know how to milk the system and an attorney will be the only option to outsmart them but they are costly $1000-$2000.Any other advice given outside the market, I would advice you to void them.

Right now it's the icing on the cake and I'm going to milk it for as long as I can!

Money Mustache is the man, but I can't consider myself a true 'mustachian' because I don't ride a bike everywhere (for crying out loud).