Keep in mind I am not an attorney nor do I play one in the movies, but I would proceed cautiously and only after you have an attorney review the option contract as the JV agreement could end up being unenforceable and all your hard work and expense for not.

If you see a sad movie, you cry.

I ask all of my first time investors to watch the revenue reserve movie.

I actually enjoyed it so much that I have stayed with it all these years.Contrary to movies real events happen super fast in a matter of seconds to maybe half a minute or so.

When you can drive down the road and point out all the houses you've been in because you've toured SO many properties ... you know you're a real estate investor.When after a night out at a nice restaurant, before heading out to catch a movie, you stop at the local Home Depot to pick up materials for tomorrow's project ... you know you're a real estate investor.

Those old homes probably need $5,000 each of work to sell them, so that erases any possible gain from sale, so that number is not $80,000 but actually $0.So the profitability of this deal will be contingent on you filling up the other 4 lots and raising the lot rents farther over time.Going to the end of the movie and working backwards, this park at 100% occupancy and rents of $295 five years from now would be worth maybe $450,000 (that's assuming an expense ratio of 40% and an exit cap rate of about 9.5%).So is it worth all the effort to rehab and sell off 17 homes and contend with all the deferred maintenance and private sewer?

Given my horror movie fanaticism I half expected something to jump out at the camera. :( 

They can't go and see a movie whenever they want. 

After one month of no contact i would have flown to atlanta and knocked on his front door to have a chat... ever see the movie Snatch?

Use google earth sometimes to check an area but I usually find myself doing that more afer watching Jason Bourne movies and put a funky spy movie soundtrack on my laptop.