And the little bit that is there is so overpriced, its like they're wanting you to pay retail prices for a house that needs 30k in rehab.

@Ramon PurifoyIn general a lot of retail agents get upset fairly easily.

Properties under $300k have a month or less of inventory AND through a  "good" wholesaler you can still find value deals with some equity (discount prices, not retail). 

The general contractors that are doing room, kitchen, and bathrooms additions are retail.

Wholesalers don't want to wait around for all the retail stuff.

Currently leased $625/moUnit 6 Retail.

Seems like that commenter missed the fact that you're talking about Multifamily or is confused about the SBA program - it is only for Owner-Occupied Commercial (like a retail store buying out their own building).Fannie/Freddie could be a fit if you have the right net worth, liquidity, and credit, but as mentioned upline already neither agency likes an out-of-state buyer who doesn't have direct experience/ties to the market they are acquiring in, so likely not an option for commercial loan #1.

depends on the market many markets are so robust.. sellers just list and sell no problempersonally I just look at it like anything else I buy there MUST be significant equity other wise why buy it. to buy it for retail .. at least for me.. leaves you no exit if the loan is called..

Why buy a ~30 year old MHP at a retail rate if a new one can be built for a wholesale rate?

It was easy for me to picture the retail buyer for SFR, but not so much for apartments.