However, this person has also set up the sale using a mitigation agent to negotiate the deal.

Your goal at this juncture should be for them to move quickly and to mitigate damages.

There are a few parks around me that have city water but have septic systems and am trying to see what are issues that can be mitigated and what are show stoppers.

The Short Seller works closely with Loss Mitigation at the banks they may be able to point you to the top person in Loss Mit who may give you the name and number of an Asset Manager.I also agree with Kristian Peter his discussion is right on the mark.Read John Andre's posting as he says BPOs are part of the deal.

Looks like they are a loss mitigation company.

I am getting a ton of calls about performing loss mitigation work for home owners...

So maybe not true diversification but some measures to mitigate the risk. 

Mitigation Fees?

The way that I invest is that I review all the downsides to an investment and in my current situation and five years down the road, is there enough mitigating factors to offset the risk, do I want to take on the residual risk, and is the potential return enough to take on remaining risk.Many investors loss a lot of money during the downturn, even in Southern California.

Developing can be exceptionally profitable and if done correctly your risks can be mitigated significantly.