Have a 16 unit trailer park that I’m trying to close the owner is willing to hold 25% of the deal.

So, we obtaina full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc.to build an overall credit evaluation.FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac CompanyPublic RecordsWe also obtain data from national databases about evictions, convictions and sex-offender histories.

It seems like when I took the national exam you were limited to a certain number of originations per year (like 5 or less). 

One time, I sent a video to a sub that was supposed to gravel a parking spot beside a cement driveway.

My wife and I are interested in leveraging a 2-10 acre single family property into a longer term RV park with 8-15 pads.We've been in communication with the county. 

Additionally, national lenders like Chase and Wells Fargo have strong multi-family loan programs that cater to out-of-state investors.Scaling OwnershipGiven your available cash and equity, here are a few strategies to consider:Leverage Existing Equity: Utilize the equity in your current properties through a cash-out refinance or HELOC to increase your purchasing power.Partnering with Other Investors: Consider syndications or joint ventures, which can help you scale more quickly without using all your own capital.Diversify Markets: While the Midwest is great, keep an eye on emerging markets across the country that may offer similar benefits.Focus on Value-Add Opportunities: Look for properties where you can increase value through renovations or improved management.I specialize in selling new construction duplexes in downtown Indianapolis, and I’ve found that multi-family properties here provide strong returns.

My Rogers Park small 550 sq ft 2brs were $1250 in 2020 then $1450 last year and this year got $1600 with 3 apps on the last listing.

Hi Tony, Most national DSCR lenders can lend on properties with a maximum unit count of 10.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

-rented out parking lot to neighboring business.