The minimal renovation requirements and favorable market conditions made it an attractive investment.

The roof is new, and the foundation is in good condition.

The rent you can charge will depend on what others in the area are charging for rent (numbers) but also intangibles, such as condition, location, layout, amenities, etc. 

Some of those variables are the size of the park, number of vacant spaces, the number and type of park amenities, the age of the park, underground infrastructure age and condition, park location, size of the market, city water or well, city sewer or septic, other utility sources and whether or not they are direct billed, deferred maintenance, cost of management, and more.

I tried to build up a relationship by making myself the problem solver but the house condition is rough.

An investor buys the liens, thinking he/she will end up with a property worth, in its current condition, perhaps $40,000. 

In the US, for Conventional loans, we can sometimes get the borrower on a payment plan and treat the plan as debt for DTI as long as certain conditions are met.

On-site evaluations allow you to examine the property's condition, identify potential difficulties, and precisely estimate renovation costs.

On Friday afternoon and over the weekend I did all my due diligence (visible condition, title letter, city violations, outstanding utilities) and everything is pretty clean.

The property’s location in Garland, TX, and the favorable market conditions indicated a strong opportunity for a rapid turnaround.