I think I can reposition it move it from F class to strong C and resell in the high 300's... and there are many parks like this throughout the country...

Hi Eric - thanks for the input, I was afraid of that...the units are currently vacant, and so it would take some time to get them occuppied...I am in the process right now of researching the last 6 mos of resells in the complex, and then adjusting my own "closeout" price based upon what I find out...thanks again.

My goals is to buy and resell 4 properties in the next 12 months. i am looking to assemble a great team of cpa, lawyer, broker, insurance broker, escrow agent, inspector, contractors, handymen, etc. any recommendations or referrals would be much appreciated.

I haven't found a group that is able to consistently acquire any reliable flow of properties at much lower than 60 cents on the dollar, and they mark them up 5-15% when they resell them.That said, if you're doing the pre-foreclosure thing, you're dealing with owners, and they are not so savvy and are willing to take a steep discount just to keep from being foreclosed upon.I would guess that either Ryan or MikeOH can add to this to let you know how they are doing this.Sean

It's buying (generally a mobile) for pennies on the dollar and then selling it on a seller financed deal.Example, buy a 15 year old trailer for $3K cash, put a couple $K into it for rehab, resell it on a $1500 down, 7 year loan at $15K @9%.If you're short on cash you can do the same thing with bicycles, TV, cars or anything else.If you've got enough cash you can do it with SFHs, not as high a multiple for gross profit, but a lot longer payout.all cash

If you search eBay, there are several resellers that break up the large quantities from various hotel providers.

And after modifying it, reselling it at a premium as performing. 

Mind you, you can always resell the property if you're not.Conclusion: it sound like a sound plan that would work but of course there are risks, as there are in any ventures.

Make sure that reselling the property in the future will be relatively easy and have a lawyer look over any sort of contract before you sign it!

New laws have went into place earlier this year that limit and restrict seller financing when reselling to end-users living in the home.Since everyone's advice was great I am only going to add to what was already said.