@Andrew Cushman, outstanding answer...thank you for the post!

Obviously the outstanding liabilities, but how much would you offer the owner on top of this amount as cash for them to walk away with?

Outstanding!

For example: "All payments received shall be first applied to outstanding late fees and charges in any order as determined by landlord prior to the application of such payment to rent." or something like that. 

Campgrounds require one of two things to be successful .1-On or close to an interstate highway for over night campers,or2- a destination location,such as beach (me) or mountains.Last is amenities, pool, game rooms,on site laundry etc... biggest mistake you can make is put all your money in spaces  and nothing built to attract campers!

The tenants are outstanding though the rent does not cover the mortgage at this time.Now we are looking at investing in multi-family properties but we are questioning what we should do with the place in Foothill.  

I have a lead with 6 lots near interstate highway.

Also 78724 out off of highway 969 would be a really great place to look.  

So your loan is approved and the only outstanding thing is the property appraisal and clean title.Contact me if I can provide more insight.Upen Patel

However, I am currently only interested in local purchases significantly below market price or that have outstanding value adds.