Flooded Modular Rental, move it, fix it, let it go?
Nebraska's flooding has destroyed 2 nice modular homes I had as rentals. The park owners are not going to continue their business. We had used the last of our RE investing funds on these homes. In fact I was having an Open House the day after the water came in to sell one to purchase a different investment property. Now, with no income from these rentals and with no funds to rehab, I don't know what to do. Let it go and write it off as a loss on taxes? Would anyone buy it if I tried to sell it? Get an SBA loan, fix it up and relocate it to another mobile home park? Any other options? If you've had experience with this or any other ideas of what I could do, please reply. Thank you.