While I don't like the extent law makers went to in many aspects, something was long overdue to clean up the mess.Now, by golly, I'm going to the store and I'm gonna drive 100 mph!

Ironically, my agent warned that buying a short sale property can be a lengthy process.

These include: The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) and the banking departments of various states also regulate financial institutions.Traditional Bank Cons:Possibly Lengthy Application ProcessStrict Underwriting Guidelines including financial documents to support debt to income ratiosLonger Underwriting Times that can go between 45-60+ days depending on property.Private Lender Pros:Fast & Easy Application Process due to being asset-based lender.Credit Score less of a factor as the weight is based on ability to make payments and not debt-to-income ratios.Generally quick funding turnaround between 5-10 business days. 

Even though its a year overdue, congratulations on the MH investment! 

If you want new build, I'd go for "almost new" so you can stick with promulgated TREC real estate contracts rather than builder contracts which are typically extremely lengthy and padded with builder "outs"

I have considered it, and decided against it, because of the very lengthy and cumbersome process needed to get my money back if the borrower defaults.

The constant flow of renters is both good and bad as far as high turn over due to the military base, I definitely agree with that. 

I do not agree with a lot of the terms and conditions of the lengthy HAP contract that must be agreed to by you and added to the Rental Agreement with your Tenant.

The correction which is taking place now has been long overdue.

Anyways main concern, excuse the lengthy intro.