Concerns?

Pretty confusing stuff.If you have a relationship with that lady why not approach her with your concerns?

Hopefully someone can help you with your dilema.Thank you for your offer concerning design, staging, etc.Raymond

I understand why the banks want skin in the game, I was more concerned that there was a Fed rule that disallowed this type of bank behavior.Looks like I need to keep shopping.

Shortly after doing so, my ERISA attorney made me aware of some investigations that the IRS and DOL were initiating into these types of products, and there was concern about whether they were legal or not.

The bank is likely more concerned about the amount of the payment, which can vary on a specifically priced home.

I'm in a similar boat.A lady in Oregon says her friend (who died) deeded his 12 acres and a mobile home to her via quit claim deed, and that the guy's will is at the courthouse, and she wants fast cash to buy a local rundown hotel to fix it up. 

I'm new to mobile home investing, just need some info.

I do have each person on the lease.The type of tenant base this is however is that say a mother,son and daughter live there.Her sister approaches the mother and says let us move in and we will pay 250 towards the rent as we can't afford a place of our own.Upon our bi-weekly inspections we find that the sister and her 2 kids are there.Now you have 6 using the water etc.The reality with apartment buildings of this age and tenant base is that families consolidate to save costs.They might be renting an apartment elsewhere for 600.Job hours are cut and they move in with sis and pay 250 and save 350 a month.The extra usage of water is what I am concerned about.I do not condone extra people there but want to control extra water usage.

That, is my concern.