He is renting the unit and will carry a bit of debt for a couple years but once he is clear of that he will do very well for himself.Park owners want their empty spaces filled. 

There is life stages to investing, and the math is clear that strategic debt use, strategic leverage, pyramiding, appreciation, is the wealth generator. 

There's no "Debt to Income" ratio stuff here either.  

DSCR loans go up to 80% of the purchase price and depending on the Debt Service Coverage Ratio and your credit score you can expect rates on a 30 yr loan ranging from High 6%- Mid 8%. 

So, if you put in 20K, you could set the bid up to the amount of the 100K total debt(80K existing + 20K additional) to ensure that the property reverts to you as the lender.

It's the concept of buying the debt attached to the mortgage rather than buying the house. 

What if you're a cardiologist with no debt and making $250,000 annually?

Upon passing these checks, we can use a state-based lease template or re-use one we've already adapted with our specific lease requirements.

The main reason I ask is because that is significantly below primary residence mortgage rates let alone any investment loans, if you can get rates like that I might need to make some changes on my end hahahTo answer your original question, assuming all else is equal long-term fixed rate debt is valuable. 

As a result the property, based on capitalization rates, can now be sold for $450,000.