Hi @Adam Anderson and @Vincent Priore is your PL a national lender?

Make sure you know all the potential downfalls prior to buying.

I wish someone wouldn’t have hacked that blog site about them... it really was a piece of art assembled by all the prior landlords up to when Andy got them, he just didn’t take a couple extra minutes and google their names or he’d have seen the blog pop up 1st article in his search.

I agree with the prior two responses that you should look into getting a different policy.

IE;   (total annual rent) x 0,4 = NOI   Then at 10% cap rate divide that number by 0.1 this is the offer price prior to adding in the value of the park owned homes.  

Florida foreclosure auctions require the 5% to be in their online bidding account prior to the bid, and the balance by the end of the day, or in some counties by 2:00pm the next day.

That would also be factored into the prices and most likely would need to be resolved prior to narrowing against the homes equity D

It's also very strange that they want you have an accepted offer prior to releasing the financials.

Funny enough, it was hearing Michael Blank on a podcast that advanced my thought process from SFRs to apartments (apartments were to be further down the road for me, prior to hearing Michael).  

It doesn't matter the price that they give me, I let them know that it sounds like there may be a deal there, and I will need to run comps and then see that property prior to inking a contract.