If we moved toward a purchase I would do at least a BPO or a blanket or individual appraisals.Thanks for your reply and any additional thoughts.

This has been my business for over two decades and I routinely lend to fiduciaries, private and public, personal and commercial, without the need to vest title individually or sign co-guarantor agreements.

It is on a block where there are all new construction homes and only his old house with the 2 connecting lots.

The land of a vacant mobile home pad is worth $0.The 60x (off city utilities) and 70x (on city utilities) multipliers of monthly rent are correct.The correct way to value a MHP is the lot rent multiple, plus the FMV for the individual mobile homes (not a multiple of their rent). 1970s 'beater' MHs might be worth $1,000 - $2,000. 2000-and-newer MHs might be worth $20,000 - $25,000.

Another startegy is admitting LLCs as a member. 3 in one LLC and three LLCs as members in an parent LLC, this allows 9 individuals to participate in one LLC, this was blessed by my attorney.

There are several strategies available based on your specific situation Re: depreciation, It really depends on your individual tax situation.

4)If we move a property purchased through an individual loan and then try to move it under an LLC, do we need to pay transfer tax?

In addition, code enforcement in most areas doesn't go on patrol looking for these sorts of things; they respond to complaints reported by the neighbors (or maybe the code enforcement official or another gov't worker lives on that block :D ).

Have you considered and evaluated the prospects for converting the utilities to being individually metered per unit and then paid by the tenants?

Is it best to purchase individual notes on a case-by-case basis, work with a group of private investors pooling money together or ????