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.

Since the the housing market has appreciated so rapidly over the last few years, the wholesale business margins have gotten very thin and will continue to get thinner within the next year or two.If you want to start wholesaling properties with a lot of meat on the bone (profits), I would suggest looking East and Inland towards some of the areas where the affordable housing has shifted to such as Inland Empire, High Desert, Coachella Valley and any other markets that always tend to ride on the coattails of the Metro markets such as Los Angeles. 

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.

@Juan De La Garza It wouldn’t surprise me at how crazy the market is, but no, you should be able to fill out an NDA and get financials, THEN you can decide if you want to submit an LOI or offer

I will ask for every red cent I can make the market bear for it.And if my appraisal comes in low, I will absolutely argue about it until I've either gotten my way about it or had the appraiser tell me that under no circumstances will he consider further re-evaluation... and I've had it go both ways.Am I nice about it?

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.