So it is definitely Outdated .

The reasons why I recommend you avoid lonnie and his out dated model today and it isn't just because of Dodd Frank, today the park manager and owner are MUCH different than in the old days when it was possible to work a park as an investor synergistically with the park owner and manager.  

My approach however will be to wait and season the property, so enough time elapses where the purchase price is outdated and the appraisal is the better standard to use.  

The comps are trending towards 75 to 80k, but they have a detached garage and they are very outdated.

-FacebookThis isn't my favorite, because the information can be very outdated just on how frequently people will update their "about me" Sections.

There are a lot of laws on the books that are outdated and are not enforced.

It's a lot easier to make money guruing tired, outdated methods than it is to find deals these days.

The property is funky old place, it is not the best, but fine for now, I would need to start planning for some potential pricier repairs in next 5 years or so with some of the major parts of the house (foundation, electrical is surely outdated, would want to someday install better HVAC instead of the boiler and no A/C setup it has, possible plumbing issues, roof will need attention w/in 5-10 years, etc).

Clean up repeat and outdated listings.

( I understand that building a strip mall is a lot more involved and time consuming than buy existing one) Its good that you're aware of his motivations and incentives, but here you should really consider buying existing first, if the building looks old or outdated, consider investing cash into substantial renovation.