Thankyou Andre for the post I called NFCU to see about a pre approval so once all that is done I’ll call my loan officer to see what we can do.

It gets complicated if in the lease all sales need to be approved by the park. 

Give notice to the tenants that rent will be increased to full market, with proper legal notice, and let them decide if they are staying or going.

For Sale by owner, Sales Agreements.I’m curious to learn what clauses or protections others builds into their sales agreements to ensure (or allow for legal action) if a private seller sells their property to someone else / backs out of your deal once already under contract.Fortunately this has never happened to me and the last 6 properties I bought were from private sellers without a real estate agent or attorney, however It could and likely will happen at some point...

You can deduct legal fees and repairs, but not lost rent.

He stated that he is legally unable to harm either party, but doesn't have that fiduciary responsibility. 

@Sam Jiang Do not ask your accountant legal advice and don't ask an attorney accounting advice.

I'll tell you that, if you're in banking, you will likely need to disclose any outside business you are involved in and get it approved. 

If numbers work then loan should be approved.

Legal?