There are currently 20 spots filled at $150/month. (20 spots @ $150/month X 12 months = $36,000 income)Assuming 30% down at this price: $43,500Mortgage of $101,500 @ 4% for 20 years = $615/month or $7,380/year.Taxes/Insurance (assuming 0.5% tax) ~$2,000 year.$36,000 income - $9,380 tax/mortgage/insurance = $26,620.~61% cash on cash return.I know this does not include fees for collecting rent/marketing the property, but what am I missing here?

I borrow a friends RV and pay $550 a month for the RV spot in Houston.I want to downsize my living space, and maintain a presence in DFW although I work in Houston.In DFW, I am debating on 1) selling my home and buying something smaller or 2) keeping my home(good location) and turn it into a rental, and buy something  smaller with less upkeep.

Because you know they are in a tough spot, you can help keep them from losing the property altogether, while potentially getting a good deal for yourself. 

Those poor souls; hard scrabbling it on the "multi-family" side of things... what are they to do, in order to survive the increasingly unbearable life in sunny Southern California?

Then they essentially say "pull out your contract and lock up the property on the spot."

It depends on what the expectations are where you buy.The sweet spot for rentals for me is a home that is in a safe area, may not be the best, but isn't bad, where a family would feel comfortable and could become a long term tenant. 

Andrew,  I appreciate your spotting this article.

This is similar to raising a low spot in a pier and beam home.I expect this will be a 2-4 pier solution, depending on the size of the base you are stabilizing.

Maybe I have a soft spot in my heart for him because he adopted a rescue dog with one eye.

They even went so far as to get top ranked spots in google with "Peter Conti Scam" or "Quick Flip Money Machine Scam" which brings you to their own page with someone telling you that they don't think it's a scam.