I understand much of the red tape associated with new construction first hand from building my own home, but blame much of it on a very incompetent builder.Thanks!

So you are probably spot on with starting to understand the market better.

Do I understand you correctly that all the tenants left the park, and you are now starting from scratch?

Need to understand your credit, experience and liquidity.

Even thou I did not make the ROI on the property that was desired, by taking action, my learning and understanding increased and I am more confident with moving forward on the next deal.

And most agents are simply terrible at understanding or discussing non-traditional purchase options.

Are you working with a local lender that understands our market?

I will never understand why someone would want to sign a lease, for a place they can't afford.  

@Anna Watkins @Steven Hamilton IIThere is case law out there to support a long-term hold being classified as a flip if it is substantially improved prior to re-sale.I'd want to understand how much of your time will be dedicated to this reno, how much income it generate compared to all of your other sources of income, and how many other flips you have done or will do in the future.If it's a one off reno, then you'll most likely be fine.

My total out of pocket is $85k.From my understanding, it being 7 units, the property is appraised based on NOI/Cap rate.