Not saying associations are bad either, just that it's not a substitute for your due diligence.

A bank may do cross collateralization or collateral substitutions or finance securities or other assets, we did some inventory financing.

When there is a lack of money there needs to be more knowledge as a substitute to reduce the risk to a seller.Back to motivation, a seller who offers SF is an automatic red flag, every time.

How many of these do you have in reserve to use as substitute collateral.

Again, these prices are very basic, and there is really no substitution for pulling a tape measure on each space and plugging your metrics into a more sophisticated estimation model.Please remember that these costs vary a greatly by region, and our company also receives excellent pricing because of its size.

However, I guess as the saying goes, there's no substitute for real world experience.

I'll assume $200 you substitute the real value.7 paying lots x $200 lot rent x 12 months x 50% expense ratio since park pays utilities = $8400 NOI per year.  

Many people use derivative "roll up" variables, such as net migration, as substitutes for lower impact subjective inputs that are hard to quantify.

But that being said, there's no substitute for experience - it's just good practice to walk through as many buildings as you can until you can identify common (and less common) problems in your sleep.

@Art MaydanThe signature section should be formatted as:[LLC Name][Signature of Member][Member Name]Its: MemberIf its a corp just substitute Member for whatever their corporate title is (ie President).Why don't they want their personal name anywhere?