All the time: people mismanage their finances, they neglect repairs, they gamble too much, they become hoarders.

Most people choose either no bank account, or just a single account - but there are circumstances that it makes sense to have multiple accounts.

However, if the park is in a large market and the current owner has just been neglecting this deal, then you could have a winner on your hands:) Do a rent survey of competing parks, and if they have current lot rent similar to this one and vacant pads as well, you’ll probably want to pass.

Homepossible monthly PMI will eventually fall off whereas FHA PMI usually stays on the loan for the life of the loanIn some circumstances we have been able to offer a slightly higher rate and get rid of monthly PMI entirely!

Perpetual uneasiness is an adjective that comes to mind in a circumstance like that.

However, there may be something in the lease that says the property manager is allowed to terminate under certain circumstances.

The tenant can only withhold rent under certain circumstances and there is a process to follow.

It may, in some circumstances, be beneficial to remember that debt percentage for UBIT calculation is always connected to the prior 12 full months and, specifically, the month of those 12 with the highest debt percentage. 

Who can answer this type of questions for my specific circumstance? 

A few problems with the deal giveen my circumstances areA) I have access to minimal capital to invest in the deal (Max $25-30k I can get my hands on if needed)B) Credit isnt exactly squeaky clean and anyone who has a significantly higher score than me doesnt have the income to back it upC) Interested property has a broken water pipe making it a 203K or cash dealD) Asking price is high for a starter investor with no collateral and mimimum "skin money" to invest (asking price $499k)The comps in the area are going for anywheres from 700-850k so Im figuring even with some serious TLC which I estimate to be around 75k you can still make a serious profit on this.