Based on your comments I would think that it was someone that had the best price.

What you need is data on what rates/costs/terms you can get on DSCR and then base your decision on real figures.  

Given the above current owner is in the red every month $350 and is asking $475,000 for the park.If I am mistaken on any of these assumptions please let me know as my comments are based on these assumptions.From what I am seeing the seller is way out of whack with their asking price. 

I don't "freak out" over opinions but I do base them on verifiable facts, not a story I heard or a guy told me.

Based on what Nathan Gesners relative is selling their 23 acres for  1 mil an acre we have about 100 to 120 million dollar prop once brought in. we have been approached by the big boys we got an offer last year of 20 mil and turned it down LOL  .. my partners are all younger than me and bought their options in their Roth IRAs  its a pretty cool long term play with some risk of course.. but oh such upside for them..

You earn appreciation based on the market value of the property, not your equity.

@Bryan Nwokem since I don't know nothing about real estate since I'm also new the fact that you said this is a new build and based on the rent I would just go $1,700 a month that would be me if I was in that position but then again I don't know numbers.

Here's a snippet from our starter course on becoming a Local Real Estate Developer and it will help you understand where the value comes into a development project to see how to weight the equity and deal terms based on the experience of the partners in the deal. 

@Matthew Paul you are right, this wasn't a home run deal, just a base hit, you can't expect to have a huge profit when it's just a light rehab.

Hello All, I'm a new member who's interested in touching base and learning/sharing experiences with individuals who are growing in the San Diego Area.