Congruent with the due diligence items above, we are also putting together the strategy for the park, performing our rent survey, running our market demand study, and creating the budget for the project.All the best,Jack

If adjusting rents up to market, I highly suggest just writing a normalized new term lease, no reason not to, even if the term is 90 days it's important to have clearly defined expectations in both performance AND duration.

Simply remove the financing contingency, make the earnest money non-refundable and be willing to eat that cost if you fail to perform.

In TX pretty much all title companies perform the same basic functions.

I received its financials today and upon looking, it's 12-months performance puts it at 5 cap, and factoring in mortgage puts CF negative. 

. - The buyers signed the release of contingencies at the end of the 60 days due diligence period - Buyers didn’t perform and asked an escrow extension of 4 months which was granted against a full release of the earnest deposit - Buyer signed the release and EM was transfered by the escrow company to my account- After the 4 months period buyers failed too close again- I served a notice to perform as well as a demand to close escrow- Sent the cancellation of contract and escrow but buyers refused to sign and informally communicated their desire to recover their EM- I refused to return the EMWhile the contract is likely dead, the unfortunate consequence of this situation is that the open escrow must be disclosed to the new prospective buyers which obviously is a turn off and causes me financial damages.I talked to an attorney who thinks the contract is void and suggested sending a formal letter to the buyers from his office to have them sign the cancellationThoughts anyone?

The way to determine value on a park like this is not to focus on how the current books are kept, but to underwrite to how it will actually perform if you run the park correctly.  

Brand new to real estate investing - but I own a Wellness Center in Dallas, Texas and have very good cash flow.

Fast forward five years or so, I performed a couple cash out refi's which pulled $60K in cash out of the property.

Brand new investor amd eager to learn.