It's a great place to ask random questions, connect with people and discover new ideas.

Any who if any one has any ideas or suggestions that work please feel free to comment.

Overall, a nice place to live, unless you're in one of the bad areas, but rents seem outrageously high and city council adopted the state's rent control law - limits rent increases to 5% per annum. 

I have a couple of ideas on how to approach the seller but I want to get your juices flowing and see what other creative ideas ya'll can come up with. 

For me there has to be some form of repercussion for defaulting or their behavior will just continue over and over and the next LL will have to deal with them with no idea of their previous behavior.

I'm not saying that your plan can't work, I'm just pointing out that these types of extremely cheap properties usually come with TONS of unique management and sales challenges that don't occur with more run-of-the-mill properties, so you'll want to study up on those issues and have a game plan before proceeding...regardless of what you decide to do, it may be a good idea to consider how you could leverage this deal as a springboard to get you to other, higher-grade properties......the good news is that you're only $5k into this thing, so you're not in too deep...yet...Good luck out there!

Any first-hand information on DSTs of 731s would be helpful, or any other creative ideas that could make this deal profitable.

I would like to have a good idea of the value of the mobile homes should I desire at some point to sell them off individually and then sell the land. 

@Ross HamiltonAny "revolutionary new real-estate investment service" that expects to bilk me out of thou$ands of dollars, up front, without offering a limited free-trial sends goose-alarms down my back and will get my spidey-sense tingling faster than a hound-dog licks its rear.  

I won’t be looking to re fi those anytime soon because my interest rates are so low with them but when I do my current lender has said they will be limiting how much they will lend based on the properties tax returns.