If my ultimate buyer's goal is to own a salon with units (arghh) then thel opportunity could be to buy at big discount, stop the contractor bleeding, re-sell the property subject to the existing first and wrap it with a second after getting either a big down payment or other major skin-in-the-game consideration from the ultimate buyer.

Freddie Mac and Fannie Mae approved brokerage or Resell / Short sale predominant brokerage ( specialty higher end properties - $100 thousand + )

If they were late model, they steal'm to resell, if older,they strip'm for the scrap value.

Two deals that have the same numbers might not be the same if one is easy to resell and the other is rather unique with few possible buyers.John Corey

Lonnie's business model is to buy a mobile for 10-25 cents on the dolar (trust me no MH seller's asking price is within 50% of what he'll take to walk away) and resell it for "terms"There are two sides of every deal, there's "price" and there's "terms". 99.99% of all buyers are "terms" buyers.

They buy, we “resell” the home with our unique financing system in place to a buyer or investor.

You might be looking at more like 20% off.Either way you need to factor 10-15% minimum of ARV (depending on your financing and how much a realtor/auctioneer is charging you) for holding costs, resell costs, and closing costs.If you buy it for 190K, you sell it for 220K, and it takes you 2-3 months to actually close on it when selling with a 10% premium to the auctioneer and closing costs, you just broke even while taking on a tremendous amount of risk.Keep in mind when auctioning it, the auctioneer could take upto a month to market the auction and then the buyer will still probably have 30 days to close.

Mostly lenders who would be called portfolio lenders as they do not expect to resell the loans.Usinig an LLC is a good idea overall but sometimes overplayed.You will pay for the added liability protection.

I'm assuming that if they default I can resell the property again and start all over after the legal process is done.

He is a buy and hold investor so his criteria is more geared to a specific segment.Other investors might like to buy, fix and resell.