You need documentation supporting your claim that it's valued at a certain amount, and you have to prove that not one red cent is going to the previous homeowner.I thought short sales were usually negotiated with lenders when the loan balance was severely in excess of the FMV of the home.

One concern of carrying 2 policies on the same property is that most policies have "excess" clauses.

Your unit could incur much more damage in excess of any gain waiting to get more money.

Consequently, parks are extremely tax efficient and often allow for excess paper losses that real estate professionals can use to offset other taxable income.

I want the option of stepping off the treadmill, and not becoming a slave to an insatiable appetite.

Unfortunately, this Park is going to be difficult to finance, you’ll likely need seller financing unless you can find local bank that has a strong appetite for mobile home park loans.

@Paul Dalton I congratulate your parents for not giving up and walking away.A few thoughts the might spark conversation or ideas:1)  It sounds like a large part of their challenge is excess debt.  

I could afford to flip homes in baltimore or richmond but they're both in excess of 2hrs away...Does anyone have any recommendations for how to get my foot in the door?

I'd start with a few:Droopy ceiling fan blades - Excessive moisture trapped in ceiling and attic, possible mold spread inside, plumbing problem, roof leak, soggy studs, possible damage to electrical wiring.Cracks on the ceiling - Possible foundation problem, roof leak, or storm and hail damage to roof.Soft spot or dip on the floor on 2nd level - Workmanship on flooring cover, water damage to wood underneath, renovations done from down stairs ceiling created damage.House extension not built on slab or same foundation as the house - Difference in foundation and level.

I get this from one of our neighbors- a rental if it is run down and has loud trashy tenants and cars on blocks would diminish value and rightly cause neighbors anger-- all our rentals are in well established developments-- I give my card to both side neighbors and ask them to please call us if there is excess noise, traffic, residents,etc-- it creates much good will & I also tell the new renter that we have done this with the neighbors-- it puts renters on notice that you will find out about unmoved lawns, animals, etc. as long as your home looks like a home and not a shabby obvious rental, your neighbors will calm down.