The city has been trying for years to get rid of it and merge it into the public park next door, but I suspect the highest and best use is a SFH development.As I know little about MHPs, I would like to reach out to those of you who are experienced in dealing with them and what pitfalls to expect.

You could also have tax issues if amounts are not repaid from a call.There are pitfalls, but yes, you can tap those equity dollars.Good way to go, IMO. :)

There are many hoops and pitfalls for the unwary, so talk to an expert.

Thank you Josh for your wise input.I'm still very new on investing and I just want to make sure that I'm avoiding potential pitfalls in real estate.So glad that I found this site. :)I am actually open to the idea on investing near USC area, however I'm not sure if I can get the financing.... for 400k -600 k.. if it's a multifamily with positive cash flow perhaps maybe.

He’s done a great job of showing us the way and letting us learn on our own while helping us avoid the major pitfalls.

Private lenders may not be able to charge points, AR has a usury law of 10%, Texas has usury and brokerage requirements.Aaron and others may mention what they do and what they may get, don't take rates or interest charges or fees as something that you may do.The basic positions may apply.Acting simply as a lender and taking a % of a deal as well as interest has many pitfalls, best to go there as a partner rather than as a lender.If you lend money illegally you can lose the whole thing, additionally you could be fined.

That's why I asked basically for personal testimony and success/pitfall stories.

And like you, I want to see people succeed and avoid the pitfalls.

I would be curious about any possible pitfalls etc....

I have a lawyer that see no issues, but also is not that knowledgeable in this area.Can anyone on BP that knows the pit-falls of Lease-to-Own for the seller share with me what these are?