However, the reason why MHPs are considered the favorite asset class to weather a market correction is because they have the ability to continue to perform through tough economic conditions. 

The process varies depending on how you obtain and whether the note is performing or non performing.

That's actually my preferred price area, better performing than both above and below those ranges 

Have zoomed in at a couple that fit the profile and financial performance.

At that point you would have three items 1) your adjusted basis 2) your depreciation recapture (25% tax IIRC) 3) your gain (taxed at 15-20% IIRC).Your basis throughout the years will change as you decrease it by taking depreciation, and increase it when you perform improvements which will then be depreciated.

This all comes down to momentum and performing some or all of the above tasks in a consistent manner or a long period of time (greater than 6 months).  

Seems like it would be best to call the bank and tell them you want to find some one to pay off this under performing note.

and long term planning, I'd especially be looking at properties inside multi-family and/or mixed use zones within 1/4 mile of Highway 99 along the 10 mile stretch between Everett and Edmonds.

From talking to these investors, they have yet to hear anything from anyone on any of these properties as they are performing notes. 

So they are not your typical mid west rentals by any stretch.