I know this area and how difficult it is to sell the big homes. no one wants to restore them.

This would leave me with $10,000 cash in hand, and a fully restored HELOC ready for the next deal.

If you want PM me your phone number, we should talk by phone, I'm a fire restoration contractor in the OC looking for fix and flips just like this. 

I have significant financial background from my work as division manager and in business development at TRW (now Northrop Grumman), over 18 years, and have also managed my own manufacturing business (Gates2U, of Maryland) from 2003-2015, and Urban Revivals (Victorian restoration specialist in downtown DC) from 2003-2008.

I'm considering finding investors who can fund the restoration or considering simply assigning the contract to an investor in MHP's, as I haven't done anything like this yet. 

I enjoy creating and restoring things and helps to keep my mind working.

We restored it to the original Pine color at the recommendation of multpler flooring guys, based on the type of wood.

For an ARV at $125k you would need to offer $75k to make 15% on an all cash offer at a full restore approx at $20k.

There are other options that exist for your financial situation, such as credit repair and restoration.

You will have to apply for a "1-Time Restoration," however there are a couple other steps. 1 - you need to refinance both homes into conventional or some other financial product. 2 - you need to apply for a 1-Time Restoration through your mortgage broker.