So if they had a 25% cap and were at 25%, then you are out of luck.With that aside, you also have to check with building department as sometimes they may not allow permits to be issued for some of these conversions as they do not meet code. 

.: I would highly suggest buying an existing community, it is almost always easier and more profitable unless you know what you're doing. logan the issue on the West coast is parks are treated like investment grade props and sell at a very low cap rate even in this interest rate environment. 

We have another property with CMHA and havent had any of these issues.

If not, could risk constructive receipt issues. 

I think a lot of people don't focus on the financing side or what it takes to get a deal done but that is everything  It is also one of the more difficult parts to understand.We didn't run into seasoning issues but it was because I had owned it for a year by the time I got the construction loan.

At first I denied all these ppl but as I sit here with no prospects, wondering if allowing someone to rent out the space, sleep in the van at night would be an issue?

A lot of real estate in D and F areas look great on paper but come with a lot of unexpected issues.

The issue I have with the premise is that Zillow and all the aggregate sites would not exist without MLS.

FYI we've changed our approach entirely and have lower fee initial entry points to avoid the challenges of long term project based arrangements so we can catch issues much sooner.

Anyone who has rented out to immigrants before, thoughts on considering this?