@Joseph Cacciapaglia Great explanation Joseph!

Here's another academic article out of Stanford (just read the abstract and conclusion since this is quite long, I've read many shorter explanations but this coming out of Stanford is most credible) explaining this shortage in dollars in more detail.

How to Get StartedIf you think you may qualify for this program, call xxx-xxx-xxxx and leave a message with your name, phone number, and a short explanation of your situation.

You might need to expand your geographic area, or do a number of adjustments to the comps, but they should be out there.

A tax professional will be able to give you better explanations, this is just my basic understanding.

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…

Current operating and capital budgets of the Property, including a comparison of actual to budgetedresults and an explanation of significant variances.12.

Of course I'm sure you already understand this now.. but this is a shining example of why you should never ever believe someone's sob story - in fact, the second an explanation starts for why you shouldn't check someone's credit, that should be an instant rejection.Personally, I'd be tempted to tell her you're filing a complaint for check fraud tomorrow if she's still there... or just go make one.

Important notice Prior to settlement, a ll parties must notify our Trident Land Settlement Officers in advance of closing, if any of the following apply to any person planning to attend: ● A diagnosis (positive test result) for COVID-19 ● A pending test for COVID-19 ● Under Quarantine by direction of a healthcare provider ● Traveled by them or a household member in the past 1 4 days to anywhere designated as having widespread sustained spread b y the Centers for Disease Control & Prevention Geographic Risk Assessment tool: https://www.cdc.gov/coronaviru

Since income and expenses are generalizations at the very best, however, here’s a more detailed explanation of how to calculate a home’s cash flow potential:Add All Of The Income: To get things started, identify how much you expect to make over the course of a year in rental income.