Got a couple questions about the rehab portion on the HUD in a delayed financing scenario and how it would affect the subsequent cash-out refi that hopefully y’all can help me understand:1) does the work have to be performed by a contractor (similar to how an FHA 203k loan requires this) or can you do it yourself,2) does the scope of work have to be line-item’ed or is it just a bulk amount for the whole shebang,3) in the event that the sun, stars and the moon all aligned and Mercury just happens to be in retrograde in the rehab actually came in under budget (say, $30k put on the HUD for the rehab and it came in at $25k all said and done), is the excess amount returned or just what happens in that scenario?

If it's not draining completely, or not running the full spin cycle they could be starting out with excess water. 

I don't have anything but empathy for you and a tenant that's clearly heading to the curb.Maybe adjust your future leases -- Is there a regulation/law in Chicago that would preclude 'refunding excess rent'?  

Also, make sure you completely understand what the umbrella coverage is providing excess coverage for/over. 

Also, make sure you completely understand what the umbrella coverage is providing excess coverage for/over.

It all comes down to your risk appetite and long-term goals.

You can find out which banks have an appetite for mobile home parks by asking the MH/RV brokers in your area, networking through other owners of parks in your area, or simply obtain list of the smaller banks in your area/region and call them to see if they have lent on parks in the past.

I realize now that there is excess, for me, and for those around me!

My favorite line "excessive stimulus has a way of covering up problems."

I ended up putting down 10% on a 2 bed condo in South Boston and using my excess cash to buy a cash-flowing asset outside of the city with a 25% down commercial loan.