@Daniel Baker I would say a lot of it is based on their training or their resources that they utilize to complete your taxes.

The plan was to utilize the HELOC as the down payment then getting a conventional loan to cover the remaining 80%.

The time value of money still favors acceleration, but only if you have a clear path to eventually utilizing these losses.Don't let your tax savings get trapped in passive activity loss limbo.

I should have elaborated in how the utilities are handled.Septic is the only private utility, and thus is my responsibility.

Once renovations are complete, carefully screen tenants, set clear house rules, and consider furnishing the units with utilities included to attract reliable renters.

I started down this path years ago, taking our pre-existing lease and adding on and adapting it to this utilization.

It’s been mentioned that with Subject To transactions are utilized by “equity skimming” operators.  

Land is valuable as I could purchase a new mobile home and install and less costs since utilities are already on the land. 

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

I've personally utilized private notes on three transactions and participated in another handful of negotiations with sellers on behalf of buyers in the past five years.