The dryers had a coin slot, but the washers took more money and had a coin slide device.Someone figured out early that year that if you put quarters in every slot of the coin slide and pushed the coins halfway in, just short of the point when the coins fell through the slots in the device, and then put all your weight on the slide and physically yanked the slide out again, the washer would turn on and you would get a free cycle without paying.

You cannot trust comps when an area is rife with fraud which the south side of Chicago was for 15-20 years.If you are going to invest in these areas, you need to make a physical trip to look.

A lot of commercial mortgages are structured that way.  

Or if they wanted the just the bone structure, they could do that.

We've structured construction loans on deals in Charlottesville where the investor replaces a mobile with a modular in desirable locations near a winery.

Which I thought was odd because the structure seems in good condition.

I'd be happy to talk through your specific scenario to give you an idea of the different ways you can structure your coverage, as well as discuss any potential claim questions you may have.

There may be restrictions on mobile homes and the type of structures you can put on the land depending on where it's located.

I'm working with that lender but not sure I'll qualify for the same structure, but appreciate your feedback.

Even if he wanted to seller finance the properties to you, he couldn't because the $100k first lien loan is still there and needs to be paid off (unless he is doing a wrap around structure which has its own hurdles).