Sometimes these municipal entities have not gotten to the recording phase. 

I'm looking at a purchase of a small seasonal park in an area that's going through a big growth phase.  

Is it possible to phase it out as tenants vacate each unit?

I remember being in the prep phase for about a year before pulling the trigger.

I assume the 5 year plan you mentioned was acquisition phase, not the total hold term.

Total $175.Phases of operation: (Please, this is the part in which I want you to make recommendations and adjustments)Phase 1: - Lease renovated unit without including utilities- Post 30 day notices to all current tenants that utilities will be switched into their names (expect to lose 2 of 5 remaining tenants)- Begin exterior updates in preparation of attracting new tenants, as well as electrical to separate meters.- Separate meters ($3000)- Repair/paint soffits and facia boards ($250)- Remove covered parking, clear waste, and replace with designated parking spots via railroad ties ($500)- Repair broken fence ($150)- Add attractive, low maintenance landscaping to front of building.

Hi again and sorry about the delayed, yes been working directly with the developers, they are brazilians like me but from the  usa, and is a very unique development. magiv village is the third phase, however the only one by desinger of ferrari cars, pininfarina.

@Jason DiClemente I know you pay contractor in draws/phases but I'm unaware of the part where you "request a draw to recover what you've paid in rehab", can you elaborate on this?

Those issues sound pretty minor to me as well.Are you in the due diligence phase?

Now, we are in the demolition phase of the project which I predict another 80,000 in the remaining remodeling expenses.