AS it turns out neither was anyone else   ( in those days it was cash and carry).Were I see the scam's or potential for scams is the Very undercapitalized investor ( kind of like a BP wholesaler) that wiggled into the middle of a transaction..

It's no different than when the electrician shows up with his/her own labourer to send through the attic pulling wires behind them.Ironically, I know a fair amount about electricity and understand quite well how it works; though my professional experience is at a much smaller scale which you may carry in your pocket, wear on your wrist, use to access the Internet or which control large power generation systems.

It can be competitive and carries higher risk, and you would probably need local boots on the ground to find and chase the deals, but you could land some affordable properties now that would pay off big in 5 or 10 years and would provide solid cash flow in the meantime.  

On the carry back how would that work?  

I have a commercial lender that will do 80% loans - My plan (and hope) is to ask the seller to carry as much of the remaining 20% as possible.

@Mark BrownYou would be hard pressed to make any sense of a park like this.......If you start talking around 100k with seller carry it might be worth looking at seriously but judging from what the asking price relative to my suggestion, I would not waste your time.  

You can wait until tenant turnover to actually install the locks if you want, but you will find life so much easier when you only have to carry around one key.

I found the best way is to go in is to go with a cash offer FIRST, then when they negotiate (everyone negotiates in real estate) then you back into / counter with a seller carry as a concession.

Will not carry any financing. 

I've got a little black leather journal I carry around with me that has some of my favorite quotes, Real Estate formulas, tips, etc.