There were no factory workers or pornos or plastic bins involved.

Two examples, if you make money please send me a commission :)1) There are many old factories/industrial properties in rural America these days that you can pick up for way below the cost of rebuilding them.

Commercial facilities, such as office buildings, factories, warehouses, or other facilities that do not provide goods or services directly to the public are only subject to the ADA's requirements for new construction and alterations.

He's basically building the cheapest house possible, could it of been done cheaper in bulk in a factory?

I think Phoenix is an interesting spot because the x-factor is that people are moving there with an overflow from unaffordable spots like LA and Seattle. 

Another complicating factor is that several have sprinkler systems, which makes the “separating” more difficult.

If the only way you can afford a property is when you have rental income, you can't afford it.Without looking at a specific property, they can only tell you how much you can afford without the rental income.The biggest factor is your monthly payment vs your gross income.Lenders look at two ratios: living expenses and then total debts.First ratio - Total living expenses (mortgage, property taxes, home insurance) vs monthly gross income.

you have NPN and you have new origination performing notes.. new originations are readily available to you and are a great way to diversify.NPN are work and can be quite complicated and risk factor is higher but returns if you get one to work is higher generally than new originations.

Not sure what your credit score is though, so that may be the only factor. I

Mentioned a great point, the tax consequence of a sale will bring property tax up to date based off the sale and the last time it was accessed was when the park was built in 1938 so I’ll be facing a huge unknown there as well so all in all I think the “F” factor is way to high with no upside that I can see.