No bueno.The only "creative" things I've thought of is to either try and get the price closer to $300,000--maybe by going straight to the owner if I can find them, and offering 300,000 FSBO (when/if listing expires).

From the info you have provided and my understanding of the area if your owner occupied unit was rented out at around $950/mo your cap rate is most likely south of 10% and probably closer to 6%.

In that scenario, the lender will usually lend a less LTV%, but the mobile won't need to pass any inspections, etc.

It's not going to be an issue for most insurance agents because it probably won't get in the way of writing the business (unless it's placed with an insurance company that has strict risk inspectors).But if you're going to make an unfinished space habitable, including adding a kitchen, and you're going to get permits for the upgrades, I imagine at least some of the work will need to be inspected.

Even if they pay cash they will usually want an inspection (the time required for the inspection varies greatly, I have no idea in SCarolina).

I think that may be closer to you as well.I know that's not much help but did want to chime in.Jason

The ad says both units are rented (although the pictures are from empty units).I know I could inspect after it's in contract, but I am more comfortable seeing the place before I even bid.

The inspection just turned up a lot more work than anticipated: between $75 and $100k.

You should likely base your NOI off of expenses closer to 50%, then you will have a more true valuation.

Need to further investigate w/ my contractor and inspection.