Yea they would keep that in place and you'd get a second position mortgage for the rest at, well, higher than todays rates.

With those kinds of rents ($5,800 between the 2), even with a 9% cap rate, in my opinion those properties should collectively appraise for nearly $500k.

Could be a higher rate, lower leverages, higher reserves, etc... varies by lender.Cheers!

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If you’re not calculating cash flow, cap rates, and ROI, you’re flying blind.

But it has been irrelevant for 40 years because rates just dropped.

And the interest rate is absurdly low in today's environment.

THat we have seen (but you pay a hefty price to borrow for that type of thing) which is basically borrowing at credit card rates so you need to have a locked in buyer on the back end.Other option is an equity partner as you mention but lets say its worth $750k (not sure value) - maybe get someone to put in 25-50% max. but they will want a considerable portion of the upside and want to see a definitive exit strategy. 

While I know Brandon and his team has experience, the going in cap rate is very low for MHP (I was told mid single digit).

The key is to analyze occupancy rates, seasonal fluctuations, and what type of properties perform best.