An appraiser is not going to use single family homes on the appraisal if they do the bank/lenders Underwriter 100% will ask for more comps that are mobile/manufactured to be compared to subject property.

Essentially the Fund would be our bank that lends to my LLC who purchases the properties.

Additionally, some syndicators are mostly in the middle-person role of sorts; partnering with others who do the primary LOI/PSA/operation roles.

Is there a pre existing loan with that bank with either of you?

One of the above houses was a foreclosure, now bank owned and on the MLS. 

I almost exclusively sell bank foreclosures for a large asset management company, and I also do a lot of marketing for wholesale deals.

Meanwhile, switch banks.

.: Quote from @Jay Hinrichs: Quote from @Matthew Banks: Very interesting post John.

If you're focusing on rural properties, sometimes local community banks or credit unions are open to these types of deals.

Although I’m sure the bank made it clear that rents would have to go up quite a bit in order to meet the monthly mortgage obligation.