This is derived from a model developed by the credit industry and would include homeowners who are just over-stretched with high mortgage and not enough income.

This got me thinking, if you could get the owner to finance 100% (or even 95%) of the purchase price at a rate and terms that would safely cash flow after all expenses (maintenance, vacancy, utilities, management, etc.).....would you overpay for a park?

We still had stuff there, we still were paying utilities, we still had our keys and were still paying rent!

How money flows and the basics of finances and economics to better understand the banking and mortgage industry.

Yeah, I worked in the investment and management industry for over 17 years.

In most states where I've done business, if there is no early termination clause, usually you can charge for the costs to advertise and the time it is vacant including utilities if tenant was responsible for them up until lease end, itemized with the rest of the damage above normal wear and tear. 

The utility might do a read-only for free, but lots will charge for this service. 

We looked up the millage rate, we'll make sure to utilize it moving forward.

I have a job in chemical industry (manager) and a good salary (90k a year).I started with buy & hold real estate in 2016.

Without esstopal letters or leases you have no idea what the tenants are paying in rent, who is paying utilities, how long the leases are, whether tenants have any special deals etc. etc.