You have to lower expenses and/or increase income.What's the prevalent cap rate for a property like this in your area?

With the prevalence of electric dryers I do think it's a good idea to upgrade the outlet so this isn't an issue with both current and future tenants.

I understand the lender CAN close the line but is this more prevalent when done on Cash Out Refi or HELOCS?

The “key” elements of the transaction are explored first and usually, the most intensively.The buyer should provide the seller a comprehensive disclosure statement and include a term in the purchase agreement that obligates the seller to return the document within 5 days of acceptance.Professionals are hired to complete Phase 1, 2 & 3 reports that identify potential or existing environmental contamination and all other elements of elements that are difficult for the buyer to effectively evaluate.Financial Checklist3 years profit & loss statementsRent roll with space number, name of resident, move-in date, renter or owner occupied, number of occupants, monthly rent, additional charges, current balance due and any relevant notes about the residentList of capital expenditures for the last 3 years3 years of tax returns12 months of bank statementsCurrent accounts receivable statementList of park owned home including copies of “rent to own” or sales contractsCopy of all current insurance policies, binders and premiumsSpreadsheet detailing who pays all utilities including water, sewer, gas, electric, trash, cable, etc…For all utilities and charge backs, formulas, calculations and meter readings for the past 12 months3 years of utility billsProperty tax bills for the last 2-3 yearsCurrent staffing list including position, wages, job descriptionsCopies of any contracts that will transfer to buyer including laundry, trash, phone, equipment, etc…Dates and amounts of the last 3 rent increasesSigned rules and leases for each residentNames and contact information of professional service providers including lawyers, accountants, engineers, insurance brokers, inspectors, appraisers, realtors/brokers, etc…Physical ChecklistSpreadsheet for utilities that details age, composition, capacity, physical locations, etc…Any drawings or maps of the park and infrastructure including lot sizesSewer plant or septic system repair and maintenance recordsWater well tests and compliance recordsDisclosure from seller of current or recent problems with infrastructure including buildings, water, sewer/septic, gas, electric, etc…Names and contact information of contractors including plumbers, tree surgeons, electricians, gas inspectors, septic companies, roto-rooter services, etc…Locale ChecklistProfile local housing market:“Stick-built” – current foreclosure rate, months of available inventory, median home price, average rent per month, vacancy rateApartments – average rent per month, vacancy rate, prevalence of move-in specials…MHPs Comps – average monthly charges (rent, utilities, etc…), vacancy rate, # of homes for sale, etc…Profile local economy including population, major employers, unemployment rate and trendsCopies of city, county and state permits, licenses or certificates of occupancyCheck zoning for recent or pending changes to target property and adjacent parcelsCheck for known environmental issues with target property, adjacent parcels or in the communityCheck for major development or construction projects in the communityReview existing surveys or environmental reportsConsider geographic factors including elevation, annual snow fall, rain fall, proximity to bodies of water, etc…Disclosure from seller of current or recent lawsuits, regulatory or compliance issues, fines, fees, etc…

Hopefully the word "Recourse" isn't prevalent in your loan documents.Things like own your vehicle 100%, make sure your living situation is still available (even if it means having to move into an apartment), cellular service will still be on, etc...And like has been stated above keep an open channel with YOUR lenders, (IF) there is a problem you may be able to work something out--this is a National Problem.Good Luck!

A lot has to do with local regulations and the types of soils that are prevalent in your area.

If things shake out for a correction, we will be in a deal prevalent market with less money available.

Although perhaps not as prevalent as before, multiple-offer, above-asking situations are still common around here (on anything priced reasonably).

You actually did what most large corporations did as the virus news became prevalent...they maxed out their credit lines. 

As a contractor myself I was excited to see this as a resource, when I saw homeadvisor I was pretty upset.Homeadvisor preys on contractors, sells them bogus leads or over used leads, locks them into incredibly high prices which dont get me wrong if your getting quality leads you pay but there leads are literally wild goose chases.This is so prevalent they filed a class action lawsuit against them.Please do not use home advisor, shop and vet you local contractors.