Or, it could be overpriced.If you would share the address, I'll look at it online and see if I can spot anything.

Sent the owner a letter and a church reach back out to me and said they had three other occupIed unIts along wIth the vacang doubke I spotted for sale.

Sweet spot seems to be 40-80 units.

Review title commitment and survey to make sure to deed restriction and/or HOA in place that would stop you from doing 4 plex2) Meet up with City/County planning office to make sure 4 plex can be build and lot has enough parking spot . 3) Talk to an architect to get an initial foot print, layout and foundation type (i.e. pier beam or post tension slab) 4) Bid out to get estimate for both soft cost (survey + construction drawings + Permit) and hard cost (cost of building)  Without #3 you really cant get hard estimate Problem is that you may not enough time to hash out #2-4.. prior to closing the land .. 

My clients, the buyers, backed out on the spot since they didn't want to get involved in a deal which began with obvious subterfuge.

I've heard things like tax debt, remarriage, and sadly a senior couple who could no longer live alone.part of that Is the wet closings you do we do dry closings.. we sign anywhere from 1 week to a few days before the actual recording of the deeds.. then funds are dispersed the next day.. no one gets checks on the spot like you guys do.. 

I’d also ensure there’s a spot for them to state when their lease ends or is MTM.

Currently in NJ 20% of the purchase price must be paid on the spot at auction and then the remaining balance paid within 30 days.

If you want to account for those expected cost just put the $125 ($500 x 3 / 12)  in the "other expense" spot on the calculator. 

I've consulted his opinion a few times regarding MHP issues and such and I can say that his advice was spot on.