There is one missing ingredient in the analysis, which is what the park will do when steered by a different owner.

The problem I see is that the big banks have the upper hand in training consumers...and steering them toward a 20% down mortgage, though it is a novel idea to think about a training program that targets this group.

There's gotta be a better way.Open to continued fellow BP investor opinions that might steer both of us in the right direction.

Nobody will insure this risk either.Depending on proximity to the homes there could be an odor too, so go smell the thing and that might steer you.The pros that buy lots of parks will not buy a park with lagoon unless there is city sewer at the street as a backup, and they factor that cost into their offer price due to the risk.Every once in a while you see a 75 pad park for sale for 200K on the market for 2 years, and it's because it needs a new 400K lagoon and 73 additional occupants.

It helps that real estate is not what I do in my practice, but I am always very cautious about steering clear that exact issue.

They may steer you towards someone who can knows about the property.

Hoboken is the only one I would suggest to steer clear from.

The group helped me with my mind set and steered me in the right direction.

That being said everyone has there own ship to steer

I will soon to be real estate investor, as I'm going to be buying my first property, (a tri-to-fourplex) to buy and hold, and "house-hack" in the greater Seattle/Tacoma area.I have just been pre-approved for financing, and I have a few prospective properties I'm looking at with my agent, but I haven't talked to a real estate attorney yet, and I'm curious if I need to discuss my plan with a lawyer to 1) become educated on the local and general land lording laws, 2) form a rental/lease-agreement for my future tenants, 3) Advise me on a corporate entity to form to hold this property under, and 4) help me steer clear of anything illegal I may have a tendency to do before I actually do it.