The lender will qualify you (there's a rather 'red flags list' that is used) - as well as have you sign all the occupancy declarations - that pertain to the financing prior to closing.

For instance, moving from Red Florida to Blue Detroit might get you slightly better returns for a while, but what about in a few years?

Also, if you are relying on the information someone shared with you to arrive at the conclusion presented in your first forum that’s a red flag.

Start by getting a red pen and writing on the envelope the missing info before sticking it in their box.

While I cannot conclusively comment on the legitimacy of their operations, several red flags became apparent to us.

Want to make sure we have good coverage and not missing any hidden red flags since we are out of state investors.

Sounds like a hard money lender that wants to take a property from you when you default.There's a lot of issues here starting with a guy that will loan you money and once it gets difficult wants you to abandon ship- red flag.There are a lot of unknowns here but trying to dump it seems like a 100% guarantee to lose money.

Setting aside what you say is drama there should be a number of red flats regardless.

Red flag to IRS if you try to deduct the taxes and insurance on the LLC tax return.

Given the above current owner is in the red every month $350 and is asking $475,000 for the park.If I am mistaken on any of these assumptions please let me know as my comments are based on these assumptions.From what I am seeing the seller is way out of whack with their asking price.