We have taken a few real estate classes and read countless books to grow our financial knowledge.

Based on location and some rough math, he's definitely looking for market value (stabilized asset) vs the current condition.

It also positions you to work more effectively with lenders and partners who want to see a professional financial setup.How are others here organizing their finances?

I’m going to consult a local financial planner but thought I’d ask the brilliant minds at BP as well.

they got ahold of me on fb through one of my groups and claim to be a direct lender. they seem to good to be true. I want to make sure i dont get scammed out of $1,000's on my first big deal. thanks for any info. 

Another we work with will take a new deal that was $500k, they may lend full amountore but they would also need to cross collateralize as well on other assets that would have to be atleast 2-3x value of the property.  

They actually failed to pay taxes in 1983 as well according to the follow up article below. 2 years later in 2017 the County reversed the sale voting 7-4 against “these out of town speculators trying to make a big payday” and for the fine people of their district. https://www.sfgate.com/politics/article/SF-supervisors-to-vo... well if the county sups could unravel it then the rules have certainly changed from my days of buying CA tax sales in the 60 70s and 80s.. once they went to bid 4 assets and away from the live auction the screaming deals were done.

Look for sellers who need to sell—due to financial strain, property issues, or other urgent situations.

Most of my fix-n-flips are financially at least second base hits, or home runs, but this one was barely a base hit. 

Not every trailer is built the same nor is every park in the same location, but more often than not they are a depreciating asset.