They are probably second or third generation Nuevo rich that do not respect money.

We build high quality apartments with strong preventative maintenance programs that generate returns with minimal input after initial repairs.Keep in touch and good luck!

As long as it generates cashflow I say you are good.

I've been researching wholesaling as a way to generate an income and my research has led me here.

It makes sense because at least the property would generate income as an outstanding debt.

A deal like this would sound good to me as long as it wasn't my only horse in the race (I had a stable portfolio generating positive cash-flow) and I was prepared mentally and financially to deal with potential vacancy or modestly lower than expected rents.

Tap your network and try to find people with cash, and ask them what kind of returns YOU would need to generate to get them to part with their money.

Hello Reid.I wanted to do the same thing myself in one of my parks, but currently the general belief is that the revenue generated isn't enough to justify work on machines (constant maintenance) and the issues it can bring with people outside of the park using it as an excuse to hang out and be up to no good.If you live nearby and are able to fix the machines yourself it may be worthwhile (may not be best use of your time). 

Also, straight-line depreciation all but totally eliminates capital gains on most income generated from rental properties.

Plus the trades are aging fast and many will retire and we have a generation of college kids come up who can't tell a 2x4 from a 2x8.Sub 300k inventory (in our market) is the lowest and limited to existing homes - the cost of land, materials and labor force builders into the 400-600 range, so starter homes are like bit-coin: finite supply.Wrapping it all up I dont believe we will see an economic slow down have significant impact on the RE markets - at least certainly not to the tune for 2008.