Hey Thomas,I appreciate the advice, and yes I'm alluding to that but also some of the logistical and auxiliary issues mentioned in the reviews are exaggerated versions of the truth.

Being an engineer I wanted to really understand the math behind it, so I created an excel version.

My version is a list of items, which if 'not up to snuff' would be costly and jeopardize the profitability of the REI. 

In certain parts of Milwaukee, there are a lot of homes that could BECOME a more modern version of the old school polish flat style of living and would also double the units on a single lot.  

Now If the land has a decent well, electric service, and septic system you could potentially have something, but it did not sound as if the land was for sale.It would most likely cost more to move the trailer than a fixed up version could sell for.

We used an independent broker named Bobby Allison in Chattanooga, TN from American Home Mortgage:  http://americanhomemtg.com/There are 2 types of 203k's: the streamlined and full version.  

Nothing Down (1980s version not newer) for the basic methods of buying investmentsMary

We told him to do it.The next day he came back and said that the bank rejected the offer because we didn't submit the addendum...I don't know if that was true or not, but there wasn't much else I could do.So, it appears that sometimes the listing agent will require an addendum with the offer, but this is pretty rare...That said, REO listing agents often have their own version of the contract that you must use, so make sure you check before you submit an offer.

It is not the true or pure land trust that creates the problem, but the modified version or uses that creates concern.

I revisit that book (audio version) every 6 months just to keep me from old habits.