I have a few clients who are trying to sell / buy land and mobile home type investments, I'm curious do you have a good source for things to know, the code for mobile home parks, etc? 

I don't lend in NY (we do investor loans in most of the country and consumer loans only in FL, but we do nothing in NY), so I don't have a dog in the hunt here, but don't discount other types of loans, including a loan designed specifically for flipping.

You don’t have to do that much (relative to many other types of business).But that’s a double edged sword. 

Sometimes it’s the hard money lender sometimes it could be someone elsePlease also note most hard money lenders also can seek a deficiency judgment which is the balance owed on the loan after it is sold at saleIf you are a borrower you can also work out a deed in lieu which is when you give it to them without going through this processWe recently received $200M in these types of defaulted loans to bid on, so we are starting to see and uptick in defaults.Memphis area had over 50 on the list.

@Chris Seveney i spoke to them today and was told they are not the proper dept to handle this type issue.

Depending on how well written they are and the "then current" financial laws and the state & county the property is in and the type of lawsuit and the mood of the court and the expertise of your attorney, you can mitigate most risk but not all.

That would be a family and friends type of loan that you're looking for .

Hi Vince,It depends a lot on the type of program (Conventional, FHA, VA, Non-qualified mortgages) as well as the property and borrower.

Purchase price: $105,000 Cash invested: $1,000 Purchase Price: $105,000Mortgage/Taxes/Insurace: $800Management Fee: $100Rent: at least $1,300Cash Flow: $400🤑🤑🤑 What made you interested in investing in this type of deal?

BTW, you just said "next" to a nice young engineer who just got a new higher paying job and is an A+ type applicant.