I've purchased other Multi unit properties but MHP seem to be a new animal. thanks, Chris-

Therefore, you have to be able to tolerate the smell of animal urine occasionally. :)

Some of the areas can just be covered with a roller, but other darker areas can't and require multiple coats and if the area has a higher gloss paint (doors, closets), the entire area needs to be repainted for it to look normal. 

Can't have any sugar coating when it comes to investing.

Warren Buffett once said something to the effect of "buy when people are scared"As far as developing land, thats an even bigger animal.

We'll replace any doors/windows that need it, but if they are in good shape, a coat of paint will make them look new.Again, for my market, everything new, nothing upgraded -- and our properties fly off the shelves at that price point.

This was because "unable" and "unwilling" or "costly" (due to being sued by a mortgagor) are all different animals.

I am going to coat-tail off what Matt and Jon said.

They made an offer and determined the potential income based on the crime and social setting of the neighborhood.The landlord can be responsible for several things immediately if they choose to invest in that neighborhood:a) Making sure the building is secured -- e.g. putting on steel doors without windows and ensuring that all doors have deadbolt locks.b) Making sure all windows lock, and if required for the neighborhood, putting up bars on the windows.c) Ensuring that the building is sealed such that no animals can crawl into the building (stray cats, racoons, skunks, etc.)d) Exterminating if there are bugs there and ensuring that when the tenant takes up residence, there are no bugs.e) Potentially putting up security cameras.If it's an area that even the police don't want to go in (some parts of Detroit for example), then I don't know what to do in that situation as I've never been in it.

In Atlanta and Milwaukee, I generally pay $1.25/sf.For these, it was a little different -- the 400 square feet on the main level were sanded and two coats of polyurethane, but they were natural, so no stain was needed.