It is used to understand the effectiveness of policies at a national, state and local level regarding race discrimination. 

However I have ZERO interest in being seen as taking advantage of those in distressed circumstances. 

My wife and I were looking to move soon anyway, so if the HOA decides to reverse that policy in the near future, we will just look to sell the condo.

there are E and O issues as well depends on your policy... many of the bigger firms definitely frown on too much personal buying and selling..

as @Chris Reeves said, you need all the other variables....Lot rents, number of occupied lots, (the ability to expand is usually worth zero...... and thats what you you need to value it at) More info on utilities ....Lets stay away from gut feelings for the moment and work off hard numbers.Also, it would be extremely helpful to know where the seller wants to be at price wise. 

If you don't like these kinds of headaches then look for different investments, but there is money to be made here so if you can tolerate it then drive on.I will also say to just let the insurance company deal with it and don't worry about whether or not these people profit from their scam.

Also, your expenses would add up to 84% of rent, assuming the following:property taxes (4.6%) = $767insurance ($2400 policy) = $200repairs/maintenance (10% of gross monthly rent) = $313utilities (2% of home value) = $333cap ex (10% of gross monthly rent) = $313 vacancy (12% of gross monthly rent) = $376property mangement (10% of gross monthly rent) = $313so all that adds up $2,615 on $3,130 of rent --> 84%isn't that extremely conservative to the point of unreal?

Mark C.Contestability, just as redemption, does not prevent you from selling but will generally prevent a title policy from being issued. 

I have zero contacts there.

Don’t pay the mortgage on time and have the insurance policy lapseIf something’s late the mortgage company is going to investigate it.If there’s no insurance on their investment, the mortgage companies going to investigate it.Now if interest rates rise, there might be a reason for lenders to look at their portfolio and review everything.I don’t know, I just know that if you buy on a wraparound mortgage or sub to, and take care of make the payments on time and insurance, and you some kind of trust to protect yourself, youre in pretty good shape.