I'm interested to learn what the relationship is with your agent and the REO offers; as you know REOs are complex animals that are more at the mercy of the whims of the bank than anything else.  

:) Sorry if that is off topic a bit, but my point is that you just don't get that with a 50+ unit apartment complex...

Trying to do some research on what the expected number for an apartment complex would run.  

I tried to learn it but found it too complex.  

Buying a MHP is near the top of our list at the moment, but I would like to get into apartment complexes down the way as well.

I talked to another friend who was in a somewhat similar situation and they got 50% off as well but they were part of a large apartment complex.

Its a 4-unit complex.

(I do this in physics and engineering to gain an understanding of a complex system)If you invest 100k to buy a 100k property, and it goes up 10% in value, you gain 10k in value for a 10% return on investment.If you invest 100k to buy a 100k property, and it goes down 10% in value, you lose 10k in value for a 10% loss.If you invest 10k to buy a 100k property with a 90k loan, and it goes up 10% in value, you gain 10k in value for a 100% return on investment.If you invest 10k to buy a 100k property with a 90k loan, and it goes down 10% in value, you lose 10k in value for a 100% loss.Thus we can see by inspection, debt MAGNIFIES RETURNS.

@Christian Hutchinson The condo is in the whispering winds complex developed in 1988.

Can the units in this complex realistically rent for $800/month/unit?