On 30 years at 4% the payment (sans land) is $429.67 meaning that the rest of monthly debt cannot exceed $1,000 per month without accounting for land.If a manufactured home goes into a community with a lot rent of $275 and sells for $35,000 the total monthly obligation will be around $555 including the land assuming $5,000 down and a 20 year amortization and an APR of 10%, That does reduce the permissible outside monthly debt to a little under $1,000 a month but it also accounts for the land.Obviously all of these figures will need adjusting for the area of the country and for the goals of the community owner but the idea is clear.Thoughts?

Recently their stock price has dropped by over 75% and their credit rating was reduced from BBB to B- by Fitch Ratings.

I helped and encouraged her to go to school and get a job in the medical field.

I think, that they think, that they can just reduce the purchase price and apply them to seller closing costs ..

If so you must reduce your basis by that credit amount.

So the equity has built for about 10 years, he is willing to sign the house over for $15,000 for medical expenses he has (he is a close family friend so no funny business).

I have had rentals about ten years ago but I got out of the business do to a severe medical emergency in the family.

If you are young and earn a big salary, an RRSP will reduce your personal income tax and you have time on your side for those investments to grow.

Reduce the rent.

This will also depends on state law if income derived from collateral is to be recognized as a reduction of debt but usually it's first applied to holding costs.Either way, it's irrelevant really to you other than saying they have not been hurt as badly if no rents had been paid, they either reduce the expense or go to income that is still applied to reduce expenses and loan losses.Have they received rents?