This simple graph may shed some light on my thoughts.

I would also suggest you have everything prepared in advance, so that once you get the green light you can hit the ground running.

I do have money saved up and I'd be able to lock in a 2-3% escrow fee and try to find a buyer.Does anyone have any kind of light to shed on this niche?

Because it was a small space, we were able to use higher end finishes and went with an eye-catching backsplash and good lighting to open the space more. 

Leave the light on, windows open, doors unlocked, toilets used and unflushed, tv on, etc.SSSSSSSSSSSSSSOOOOOOOOOOO many possibilities!

I find this person highly disturbing.I would not encourage anyone just do something like this lightly.

.-31 spots-16 septic tanks (two spots to each tank)-Lot rent $200-5 Tenant owned homes (TOH)-1 Park owned home (POH)-About 3 vacant homes able to be renovated-About 4 destroyed homes that need to be removed-18 vacant spotsIncome (monthly)-$1,200, not including the POH rent, only lot rent.Expenses (monthly)-Trash $400 -Environmental inspections for homes moving in $40-Street Lights $240-Capex $40 (Roads, Well pump replacement)(Still formulating what other monthly expenses there will be i.e insurance, management)-Total: $720Other Details-On well water-Individually metered for electric-No property management-About (1/3) of the park in a flood zone-Flood zone spots require a FEMA foundation (2k-4k to build)-Owner owns free and clear, seller finance is a possibilityI have been thinking about offering the following options to the owner:1. $100,000.00 Cash/Bank Financed.2. $118,250.00 Purchase Price, $10,000.00 Down Payment, 180 Month Term, $601.00 Monthly Payments, 6 Month delay in payments (In order to create cashflow).3. $136,600.00 Purchase Price, $5,000.00 Down Payment, 240 Month Term, $548.00 Monthly Payments, 5 Month delay in payments.4. $167,000.00 Purchase Price, $0.00 Down Payment, 360 Month Term, $464.00 Monthly Payments, 4 Month delay in payments.The DownsideThe moment I add in the seller finance debt service, the deal is negative cash flow by $100-300 each month.

Deal specifics:Single family home, contract price 120k, currently valued as is 170k(seller wants out), if light repairs (about 10k) ARV 185-190k.

At the very least, this is bad form if the landlord allows this in light of the protestations of the other tenant. 

Generally NO if they a) have extensive rot or b) were poorly/lightly built in the first place. 2) Is the home worth saving due to location, size, architectural features, etc?