Does that sound too much, too little or about right?

Sounds like a pretty sweet deal. 

@Wendy Vaidic sounds like you have some members on the city or municipality board who are not mobile home park friendly and are trying to make life difficult.

That sounds like a very low amount for the bank to foreclose on.

That bong stands for everything to them in the moment they tell you about it, and you had better respectfully keep a straight face as you hear the Legend of the Bong and not imagine the sound it'll make as it hits the bed of your utility trailer.15.

Sounds like perhaps the bungalow does not have an occupancy permit?  

So here's how it played out in my head.1) Get a loan from a Hard Money Lender for $120k.2) Find five properties for $100k or less.3) Use $100k of the $120k loan to make the down payments and keep the other $20k in reserve to cover closing costs and any minor repairs needed for the properties. 4) Get the properties rented out and within six months to a year, refinance the properties to pay off the original lender.Now, on paper, this idea sounded really good and I assumed it would be feasible. 

All the Gurus want to make it sound easy, no risk and can do with no money.

It sounds like at the end of the term, the loan is callable, and based on the performance and what the market looks like, can be refinanced or will have to be sold or paid in full.

It sounds like a complete screw up.