There will be deferred maintenance beyond carpet and paint.Have you done a thorough investigation of the target market?

At face value, if the house is really worth 375k still and you can purchase it for 175k cash by buying the note, I would say sounds like a deal worth investigating further.

They sell it to an out of state investor who doesn't investigate the area in any detail.

From there, you'll have a handful of names you can further investigate through reference calls to past landlords and current employers. 

A retired investigator who worked for the ohio division of real estate will be there- which is a first and quite a big deal.

Davis:Recently several members of the House Financial Services Committee called for an investigation into Clayton Homes and more specifically, their lending practices relating to the chattel financing of manufactured homes.

Get to know the area, investigate soak it up. 

If someone wants to do that, well I guess that's up to them if they want to take that risk, but in ANY major claim, whether its a fire, injury, etc the ins co will investigate the heck out of things and will almost certainly figure out the true story and deny the claim. 

Martin - If you could send a note to support on the issue, we can investigate.  

I did talk to a very good developer to investigate as a follow up to our meeting that put these similiar panels on multiple buildings in the a few different cities.