Another friend who invests heavily in Phoenix shared a story about her first deal there..she jumped too quickly into a duplex without adding a little cushion for those first-year capital improvements.

Upon the ownership of the note, you could offer DIL with no deficiency to the borrower to leave.

Quote from @Wilson Lau: Hi @Arron Paulino, I am working with a client now looking at the Contra Costa County (Pinole, San Pablo, Brentwood) and happy to share with you some insights in DM.

Their biggest challenge was finding a reliable cleaning crew, but once they built a team, everything ran smoothly.Let me share another example.

Most lenders are going to want to see a few big things from the ownership group. 1) The borrower will be the enitity (LLC, S-Corp, etc) and any owner with usually 20% or more of ownership in the entity will be expected to guaranty the loan, 2) We'll want to see some experience doing similar projects from at least one of the main owners, 3) We'll want to see bank statements showing liquidity enough to cover the intial cash injection (down payment), the closing cost, and some cash in reserve.

You're asking someone to spend a lot of time and energy to share what they've spent years - maybe decades - learning and developing.

Crazy story Jake and thank you for sharing it with the community.

I can share that filing with you via email.

Mobile home parks often have unique challenges and opportunities, and it’d be great to hear how you’re approaching this one.If you’re open to sharing more about how you found the deal or approached the seller, that would be valuable for others looking to break into mobile home park investments as well.

Thank you for sharing.