They key to long term success is to identify buying criteria that help you achieve your long term investing goals and be ready to act when you find a property that meets that criteria. 

I would have shut off the water main to stop the leak and fixed it when she was ready to let the plumber in. 

Consider what it would cost you to hire out all the work necessary to make it rent ready.

Personally, if you can't come up with a 3.5% dp for a 200K property, you are not ready to buy a house yet....I feel that if you can't come up with 20% it's the same, but if you have stable income in a secure field, the 3.5% down payment may be worth the risk.

@Verna Littleton and @Nathan Beach have jumped in and are ready to rock.From our experience with human beings, we always scout at least three other alternatives who can jump in and take over at any given time since we can't afford to slip.

Make sure your numbers are in order and make sure you are ready for a long process if you go ahead with the deal.

Lucky for us, the seller needed to sell fast, had no mortgage and was ready to go.

I set up a Corp in the fall prematurely (with the intent of private investors) , cost a few grand but now I have it and I can keep it until I’m ready for that.

I’ve been researching for days and ready to take action!

The current owner (a person who owns several parks that I am working with to turn this park around), paid all cash & plans to renovate/build up records over the next 6-8 months, then it'll be ready for bank financing.How would you value the above park?