Possible deal in Lorain Ohio

[Joel Gabelman]

A deal came across my desk the other for ~$15k for 3 lots in Lorain Ohio, which is just outside of Cleveland, Ohio.  Only one lot has vertical, which is in dire need of rehabbing.  Comps in the area are around $50k +/-.  Issue is cost-to-build is more than value.  I explained this to the seller, and was told manufactured housing was the way to go, as cost psf is considerably less.  I'm not familiar with Lorain, and I'm not that familiar with modular homes.  

If anyone is interested in looking at this, maybe we can both win.  At this point, at least on my end, while it SEEMS there's some deal here, I'm having a hard time finding it due to the metrics.

Cheers,