I'd also suggest you look at a the 80-100K, maybe 125K initially, easier to obtain financing, better collateral/marketability and chances are, you'll be moving which could put that home in a rental inventory later on.

In states that do not require judicial foreclosures, going to court and obtaining a judgement, the trustee simply follows proceedures, giving notices and publication as required, set a date for sale and goes to the palce designated and conducts the sale.

Jurisdictions have differing law with respect to priority, etc.I have bought properties for relatives in the manner you are contemplating (I did it in order to give my relatives time to sell a property or obtain financing).

I might still do the sub2 if there isn't enough equity, but the numbers still make sense because it is a turnkey house that I can obtain long term, very low interest rate financing on.

In North Carolina, the first license you obtain is "Provisional Broker".

Minh - I was always under the impression that obtaining a commercial loan was difficult, so that is very encouraging.

Since the credit crisis of 2008 and 2009, homeowners and prospective homeowners with bad credit, have had a hard time obtaining home loans.

If I can find a part willing to move it (and with the expertise to obtain all necesary permits), I'd like to get it moved and either straight out sell it, or perhaps do a lease option if that is amenable to the park management.

Also, using family and friends is a very unlikely route.So my question is, how could someone in my position raise the capital and obtain a mortgage on a home?

Economic aspects are scarcity, modification or improvements, permanence of investment or fixity and area preference or "situs" which may include intrinsic values or satisfies other needs.Real estate is unique, drop back to your Economics 101 class, "factors of production" in economics are land, labor, capital and entrepreneurship. land is the only factor that can not be replaced as a factor or requirement to produce goods or services, all other factors may be substituted, if you have less capital, more labor may be used to obtain the desired outcome.