I know that I'm not exactly getting in at the best time historically, but as the best time to buy real estate was yesterday, and the second best time is today, it's better late than never.With that, I would greatly enjoy the opportunity to take any current MHP owners in Southeast Michigan to coffee or lunch.

After 2 years, they were still unable to get their own loan, and most banks weren't giving them until about 2013, and then only with a 680 credit score or above.

I've seen BPOs around $100-200 when prepared for a bank compared to a typical appraisal that goes for around $500. 

Then saving the extra money for an emergency fund as well as your next down payment is much more important.Also when you go to get the second mortgage the bank is going to care more about you having reserves (more cash or assets that you can easily make liquid) than seeing you have paid down you mortgage some.  

He stated best price was $600k, but knowing he really want to sell, I only agreed to pay $470k (Seller brought building for $420k during 2010 from bank. 

I strongly suspect (without even seeing your loan docs on your personal loan), that transferring it to your LLC might trigger a due on sale clause and the bank could call your loan, if they ever found out. 

There are tons of local banks doing loans for flippers just like HML but at much better rates and cost.

Refi (Yes Dave R is spinning in his grave or I'm sending him there more quickly)  Refi and consolidate debt on one or two properties and then apply all cash from every source you got including banks you can rob and lunch money you can steal from your children to that one loan.Paying of debt is a very good goal. 

How old of an appraisal will a conventional bank typically accept?

@Sandy Hu I used to have several with Bank of America but in the down economy they bailed on all of them.