If you were looking at buying in Florida, but your lender is in NY or California, they dont really have to be as concerned about their reputation because the realtors (most likely) will never work with them again. #1 is the primary reason, but #2 does factor in as well.

My PM is key to my success.San Diego Condo: This is your biggest concern.

If you don't have $3-5M of dry powder to deploy then you are going to be in for a long journey because remember, without the W2 income lenders are going to be more concerned with liquidity so some of that money has to sit on the sideline.

I have to say I have been investing in commercial real estate since 1997 and have never been more gravely concerned about an investment I have made than these two. 

I'm definitely still looking at it, but one concern is the population growth, it seems to be decreasing slightly? 

Purchase price: $82,077 Cash invested: $50,000 Sale price: $275,000 Fix & Flip mobile home with extra lot.

One concern that I have is that I need to be able to sustain this during a downturn.

Please see my earlier response to address your concerns.

Most seller's in a sub-to don't understand the risk they are taking and most lenders have concerns over the overall portfolio quality ratings which has an impact on their cost of funds.

We plan to rent out the main house and ADU in the future but also concerned on the return if/when we do sell.