I'm an agent, you could ask someone from title companies if you are farming a particular neighborhood

But I am concerned by what it could cost to update the park.Upside is there are 12 pads of tenant owned mobiles and a small house on just under 2 acres with a gross rent of $3,700 not including two units non occupied, owner is asking $200,000 for the whole thing.Downside, went to the park and found it very run down and cluttered with trash.

Don't know about the punishing out of state owners part, personally I'd like to see it become far more difficult and expensive for non-US investors. 

Or would it be better to take out equity for this particular opportunity?

@Ray Harrell I do agree with you that there are an annoying number of self-aggrandizing, non-useful,  phoney,  Oprahesque posts which show unrealistic, absurdly high margins  on a statistical outlieing flip, rehab, or SVR.  

For those of you who get lists from public sources, free or paid, they obviously are bloated with non qualifying leads that need to be trimmed like banks, LLC's, recently sold, etc.Beyond this I'm not 100% sure what I should be keeping on the list and what I should be eliminating.What are some traits you guys look for when filtering you lead lists?

Hi @Bob D.Congratulations on getting the process started.In theory, purchasing in an LLC is a good idea if you can get a non-recourse loan.

I've been searching non stop for an answer to my first question and can't seem to get a concrete answer.

I have learned so much already in the search for properties and throughout negotiations on this particular property.

I reach out to a lender, submit the application (or verbally relay my information over the phone to avoid another hard inquiry), and when I ask for an estimate of rates, they disappear or take an unreasonable amount of time to respond and follow up is non existent.