Bad news.

A 64% return over 5 years isn't bad.

They could also sue you for "specific performance" and try to convince a judge to force you to buy the house but that option is rarely used and typically only when one party has been really bad.

I would like to report to credit agent, the government or other organizations this bad tenant.

@Mike G....if you went to the bootcamp and you follow that model...you know this is a bad buy.....unless this is in california or somewhere where the land is easily worth more than what your paying...but im not a speculator or in the raw land business....so my advice is very limited.Advice....i would throw this deal in the trash and keep looking for other parks....keep them in your Rolodex of follows up's...but follow up in like 6 months and if they still haven't sold it to someone and haven't come down to real world prices..then just call them back in another 6 months.  

It's nice to have all 4 components of making money in play for a S2 w/ wrap, but 3 out of 4 is never bad. 

Sorry for the bad picture, but you can see the alley the garage is on is about 6' above the back yard.

He can walk into a house in Baltimore and point out even the slightest details for the good and the bad.

It doesn't help that the National Floodplain maps are outdated and universally acknowledged to be "politically influenced" (as certain neighborhoods in Houston demonstrated).Maybe it's a bit short-sighted but with plenty of solid places to invest (major cities with booming job markets), it makes pulling the trigger on Florida an unenthusiastic choice.

If you know you want to do real estate you might be better served with a business degree of some sort (finance) as you're going to get into lots of financial analysis to determine good deals vs. bad and more.