However, it will all depend on the sophistication of the investor...

My perception is that the funds will invest in the leftover slack when an investment doesn't fill.* Prefer to diversify among management teams.* Prefer to control location for state tax planning.

I hadn't really thought of utilizing a HML, from the perception that there would be now way they would lend to someone who hadn't done a deal before.  

I suppose some situations that are well defined (like a clear "one time" deal) and involve sophisticated parties (that know the risks) may work, but if you can stand on your own two feet and make your own deal, all the better.

But I think the perception of Memphis being overrun by rentals has more to do with the fact that the turnkey operations in Memphis are very good at marketing, and has less to do with actual data. 

Many times there is a perception of crime and the crime is petty crimes, though crime none the less.

Matt Faix I think those folks are typically a little more sophisticated that to fall for every silly think that comes in the mail.

your being presumptuous that she is not sophisticated or accredited.. if she amassed 750k in cash she could be both and a lawyer simply is not needed.if she is old and there is a question then I agree..

I know we serve for purposes much more honorable than discounts but remember, perception is reality.

Most sophisticated park owners would tell you to run the numbers on unoccupied lots only and make sure it works.