This could devolve into a discussion about valuing parks on current performance or future potential, but anyway you look at it the park is overvalued for the amount of work needed.Other side of the coin, this park could be worth a lot.

They must pay income tax as they earn or receive income during the year.Estimated taxes – If the amount of income tax withheld from a taxpayer’s salary or pension is not enough, or if the taxpayer receives income such as interest, dividends, alimony, self-employment income, capital gains, prizes and awards, they may have to make estimated tax payments.Self-employment tax – This is a Social Security and Medicare tax.

I believe this would be considered debt financing but with the equity as security.

The FNMA deed of trust (Section 22) has a blank before the % that gets filled in:Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not limited to, Trustee’s fees of ____________% of the gross sale price and reasonable attorneys’ fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 

Has the legal owners been informed of your method of liquidation, are you prepared to settle if you can't assign, what will you do if  the owners decide not to come to settlement, how will you respond to the assignee or sellers in the event of a default, have you considered specific performance suit by assignee or sellers in the event default, have you made full disclosures? 

Really nice with 24 hr security and gated.I might have to give in.Terry

I was just thinking that *any* interest paid on a mortgage secured by rental properties was deductible on schedule E, but sounds like that is not the case.  

Yup, it counts.If you theoretically had a hard money lender that did NOT secure it by the real estate and record it with the county you MIGHT be able to sneak it through, but such a hypothetical hard money lender would probably be out of business in about 0.236 seconds.

I am completing a rehab project in NC and I looking for a home security company to monitor during the marketing to close.

Did not give us full payment for the security deposit and said previous landlord had taken it from them so they couldn’t pay it.