On a positive note, 100% of the purchase price should be available for depreciation since there is no land associated with the purchase.I see a number of other double-wide manufactured homes available in GR, many priced well below $120K.  

I am curious is the total equity $100k, or is that the accrued equity? 

my wife and I have small positions with Bam and have also met in person with Ivan at his office in Indy..

Turn this around into a positive feel for the tenants. 

One said the 2nd mortgage has to be assumable and the other said it did not.VA issued Circular #26­24­17 back in August to try and clear up the issue:Assumability: If the secondary borrowing is not assumable, the holder of the VA guaranteed loan should counsel the assumer that this may restrict their ability to sell the property to another creditworthy assumer through an assumption in the future.The lender currently servicing the loan still can decide whether or not they'll allow the 2nd.You could do seller financing for the gap and then refinance just that amount with a Home Equity Loan or Line of Credit at some point down the road. 

If you are able to sell I'd say sell, if it's not looking like that's going to happen then try to get it on a long term loan with renters so you can save on your monthly payment, then get the equity back out and move onto something else!

If I keep it and rent it out, I will have around $70K in equity @Guillermo Perez   Just curious on why 70% instead of 75% loan to value? 

Only the first can be corrected, but us making a mistake and getting anything less than 5 star review is stricly unacceptable in my eyes and my team also has a strong sense of ownership in their position and loyalty to my company.   

There are a few programs that can do second position financing but typically underwritten based on your personal income.

An action that gives enough financial incentive and relief that it DOES adhere "for public good", and makes the entire thing a net positive for the thousands upon thousands of dislocated persons AND don't forget, business's.