For abandoned parks with infrastructure, some lenders may consider them as long as there’s a plan for the rehab and the infrastructure is in good condition or can be repaired.

I think it will add more competition to the rental market and the buyer market specifically up in N Phoenix, Deer Valley, Desert Ridge, and then up into Anthem - but will bring up value throughout the county. 

Even a single family builds can vary significantly based on site conditions and required structure/design.

The property was in horrible condition, pet odor, lots of deferred maintenance etc.

I always buy something I could see myself living in. not necessarily the colours, but the location and size of the home and the condition.

Even though your market might prove expensive, I would exhaust all options before ruling it out.Truth is, you have a unique competitive advantage in your market.  

For example:Let’s say it is a $450,000 home in good condition.

Of those two, I actually like the first one better because you have a competitive advantage to that market and the amenities you could provide.

You will have a leg up on the competition where it's a stand-alone. 

Not only will you not be able to renegotiate after getting the approval, but documentation of condition issues will help you to get a lower appraisal to begin with.Be prepared to move fast after the approval letter is issued.