What if any licenses are needed by the fund and any individuals at the fund?

I am not sure we can compete with this tenant with their (most likely free) lawyer.

Two answers, both serious, but only one that SOUNDS serious.First, check and see if you are paying by the "tip" (individual pickup at a flat rate) or by the ton.  

If I do the deal, one escape route I'm strongly considering is splitting the land into two lots, allowing me to sell off each home individually.1. 

Of course this meeting is also a qualification period where we make sure that the individual actually has money to invest, is motivated to buy, and is crystal clear on our process. 

@Taylor Reichert When you have more experience you will learn that problems are opportunities.Your prospective seller(s) have a problem in that they are unable to pass marketable title.If it were me, I'd determine if it was due to a prior break in chain of title, a current secured creditor or a competing claim for control by another a heir or beneficiary. 

#1- he doesn't want to compete with the guy who has signs out saying he paint a room for $75. 

If  I had your shoes on I might look to see what cabins are selling for that are actually complete rather than buying this one and having to compete the repairs.

Hi Andrew, I think debt tolerance depends largely on the individual: I am still building a portfolio, so I have a higher debt tolerance than someone who is ready to stop building and concentrate instead on cash flow. 

However, I would recommend teaming up with people who do have experience so you can say you are working with experienced individuals.