Deals come up all the time where I'm from, via Foreclosures, Short Sales, etc. via Properties selling for $50,00 - $60,000 .If I get n accurate Estimate that the ARV will be say $80,000 - $85,000 , and Im All-In the property for $65,000 ..... then would it make sense to do the deal ?

Sure prices go up and down over time, but not to the levels we saw in the short time frame we saw.Peter Lynch once said that more money has been lost by people trying to anticipate market corrections than has actually been lost in market corrections.

My short term goal is to try to master wholesaling and then move into cash flow properties.

Here is what I know about the subject of land lease manufactured housing communities:Sam Zell of ELS was a millionaire when after reading George Allen's book he discovered land lease communities.

Using the gift tax exclusion will not be helpful because he will be reimbursing the LLC over a short time.

Seeing as how I probably wouldn't be able to sell the property with the added 2beds + 1 bath without digging down -- a cost we're not willing to sink into this property yet -- it seems like just adding the stairs without permits (but up to code) is the way to go in the short term, just so we can at least get to the basement without having to go outside.

Offers can be less than the current mortgage payoff, otherwise known as a Short Sale.What equation are you using?  

I have several off-market rental properties coming into inventory shortly, so I'd love to hear about what you're specifically looking for.

Your friend will have to discover that on his own at some point.

Is it short term / long term lease?