However, that doesn’t mean that you won’t get great value out of the event itself.

@Josh Baker if it's been on the market that long, it means that many other investors have passed on it.

What exactly do you mean by "potential of the parks"?

Live below your means and stash a little cash.

I wasn't meaning to imply a majority of sellers. 

That means the cash you can pull out will go lower as you wait longer too.

That being said, no, this is by no means the typical experience and you should take everything that happened and use it as motivation to get educated.

I have two options in front of me either to obtain a rehab loan, which will cost me $10k for six months ( points, fees, interest) or just finance the entire deal with my own money (cash).The rehab loan will enable me to obtain an additional property, so in six months i'll have two properties ( one with the loan, another with my cash)  but it'll cost me an extra $10k (on top of the regular down-payment which in any case i'll have to lay out) .

By all means give it a shot, but just giving you an FYI that it's probably not the best time to get into the mortgage industry. 

It sounds like the terms of your option is basically allowing you to pay down the price at zero interest for3 years which means it is all going to principle.