That's the maximum amount we will pay for the note.

But your logic makes sense.I would be a bit nervous about mobile home parks just because they tend to be of a poorer demographic, who tend to be the ones most likely to be unable to pay when the recession takes a turn for the worse.

That means if they sell it, they will pay taxes on nearly the entire sale amount which could be a hefty tax bill.

I'd like to take as much as I can without paying a penalty in the form of PMI or much higher interest rate.Are equity lines different? 

Is it like you sold your house and don’t have to pay for the profit?

It took a long time to get that lease negotiated (almost a year) but once we got it signed, we brought the deal back to our bank to get a 2nd mortgage put on it for cash out purposes (the reason why this was advantageous was because we could keep our 1st on at the 5.9% interest rate we locked in at purchase)The property just appraised for $4.1M and we got our commitment letter for $1.1M in loan proceeds which will allow us to pay our investor back 100% of their cash!

We bought it 2021 august for $182500, placed down 20% and will pay for 15 yrs.

They are ready to walk away from both of them at $100k each in exchange for someone to pay their mortgages and save their credit and marriage.

If a property owner stops paying on a note the lender just “takes” the property3.

Quote from @Thomas Fredella: I joined Partner Driven 2 months ago, I was quoted the 10K and im paying $1,500.00 a month.