Above all, preservation of capital should be her ultimate goal.

@Sean Peters  I agree with those abovecondo converts can cost far more than one might thinkyou sell these off as inventory and your a dealer and taxed as ordinary income and self employment tax unless you C corp I thinkcontingent liablity of selling attached units as the developer.. this is a real issue and proper insurance is advisable for future litigation for construction defects.So the number really is the 250k  number VS the cash flow and what would you do with 250k  if you use it to spring board your business then I think thats a good move.other wise you can jsut rent it knowing you can condo convert at a time in the future if prices rise and it becomes even more advantageous to sell off.Now check with your accountant but you might be able to condo convert and keep these as rentals put them on schedule C and then sell them off over time.. and get cap gain or preserve 1031 potential.. either way sounds like you have a nice deal

You will begin to learn and find out that you do not know what you do not know....that in itself may possibly help you to preserve your capital first and foremost and then develop a good plan to build on that capital.Best of luck to you as you get started.

That preserves our "imagined" 16K profit, but add in minor catastrophes and sacrifices to the RE gods, and we're at 10K or so.  

You've obviously thought through it, and can see that they will preserve your capital well and generate nice cash flow.

I see it more of the buyer is preserving cash to turn around the property.

It seems to me that none of the reasons for buying Gold was for the creation of wealth rather than the preservation of of it during a catastrophic event... 

Often times it can be converted to real property, however you then start paying real estate taxes instead of property tax, which is usually more expensive.My experience is that any park I would feel comfortable doing a deal in will not allow rentals (their way of preserving the quality of the park with some pride of ownership) - in that case it would be doing an asset flip, or a seller financing the asset.  

When you know that you can't make a deal work, how do you wrap up the interaction and preserve the relationship?

Just try to do Fix and Flip to preserve your income.