And now I am charting in uncharted territories (at least for me).I found a vacant lot, in a good SU-1 Zone (Special Use) in a commercial center of a growing town.The lot, caught my attention, because it was listed at a fraction of the price of "regular" lot.So immediately, I thought SOMETHING MUST BE WRONG with it.  

Instead of bringing the entire purchase price to the closing table in cash, you are able to bring only a fraction of that to closing.

Rather than putting down 20k, you can put down a fraction of that, and use the balance for another investment........

My concern is that the building we will be appraising will only be a fraction of what we hope due to the unique market in Detroit. 

But if your money is just sitting in a savings account earning a fraction of a %, then a 7% return would be better.

An example of pari-passu occurs during bankruptcy proceedings when a verdict is reached: all creditors can be regarded equally and will be repaid at the same time and at the same fractional amount as all other creditors."

That doesn't mean low quality (many manufactured homes are quality builds), but it is a niche market aimed at those wishing to own a home at a fraction of the price of a house.This overall problem has been solved with modular housing long ago.

The reduced payment plans I have seen are just fractions of the amortized payment and sometimes less than the accrued interest. 

*This is only a fraction of the work that was done on the house, in truth every surface in the house needed work and there were electrical surprises, plumbing surprises, closets added, walls moved to create a new laundry room and more. 

Oh, the humanity.)You have a thornier situation, I think, as 36 units is more challenging than 10, and rehabbing a substantial fraction of those units will be expensive.