I think it will take about $10k to fix each of the trailers to MY standard of rental.What do all of you think?

History showed us what happens with no regulation (bank runs and economy collapse during Great Depression brought on the FDIC just as the RE and bank crisis in 2008 brought stricter lending standards) and how we learned from our mistakes.

Typically these banks are small local banks or credit unions that have more flexibility on their lending standards.

Obviously it grows more quickly in warmer conditions, but mold damage can get costly to remove and isn't always covered in insurance policies as Mold/Fungus is a standard exclusion in the industry.

It sounds like you have a good opportunity and you understand what it will take to rehab the home and bring it up to standard.

I typically use them on Houston and San Antonio deals, but admittedly, I prefer either a P-22 escrow attorney for Stewart or one of their commercial closers handle my deals since anything outside the standard residential transaction throws residential only closers off track. 

I reviewed it to see what the terms were and it is pretty standard that if the tenant breaks the lease they are still liable for all the rent through the end of the lease term. 

Clearlake, CA had lots of these 50 x100 foot lots and are much too small for standard septic, Guerneville CA has lots of these paper subdivisions as well.  

You final had has to prove no mortgage was acquired and you can borrow up to the amount you spent on the home plus any improvements you can prove with receipts, contracts, etc.Many banks don't know that's a standard guideline, but you can get bank/mortgage company financing for this.

Looks like lots of deals are still out there by that standard.