A few pros and cons:Pros: Great management companies, stable employment, strong occupancyCons: Valuations are very high, lots of supply coming to the market in Manchester/Scott's Addition areasHampton Roads/Norfolk is a good market but is very neighborhood dependent.

Which I thought was odd because the structure seems in good condition.

I'd be happy to talk through your specific scenario to give you an idea of the different ways you can structure your coverage, as well as discuss any potential claim questions you may have.

There may be restrictions on mobile homes and the type of structures you can put on the land depending on where it's located.

Given supply and demand I'm guessing rental prices wouldn't go down by that much.

I'm working with that lender but not sure I'll qualify for the same structure, but appreciate your feedback.

Even if he wanted to seller finance the properties to you, he couldn't because the $100k first lien loan is still there and needs to be paid off (unless he is doing a wrap around structure which has its own hurdles).

This is just how supply and demand works.

If it is possible, how would I structure the deal?

@Sharon M. how did you structure this deal?