Also, within this approach, the option that attracts me the most is purchasing and installing a 'tiny home' on a campground that allows it.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

For example, I will send a tenant the lease renewal options and give them one week to respond.

Especially in a more competitive market where the options are plentiful.

Here’s what made a difference for us:🔹 Mortgage Relief – Many lenders offer disaster relief options like payment pauses or loan modifications.

One long-shot option is to offer a lease at something like $1,300. 

For example Hospitable has a option for this through there direct bookings payout sections but it is only for specific states.

If you had no knowledge and they broke the lease I'd issue a notice of non renewal, but give them the option to remove the cats.

What ever the Contractor proposes you should not take as the only option.

These are the options we are trying to decide between… thank you in advance!