There's also a bus tour and convention including break out sessions from local experts this weekend put on by Thrive Realty. 

They'll also be able to help you determine reasonable compensation (an important aspect of S-Corps), and also help you with the cost breakouts of the sale.Please note that I don't know every detail of your situation, so the strategy I mentioned may not completely apply to you.

Just have the Title Attorney break out their 2nd mtg. note template, fill in the terms and send to seller.Seller of course gets to U/W their own loan, and can ask for Credit Report, income, assets, etc. 

NOI / Capital Employed (down payment) = Net ReturnI then break out the Net Return into what would be cash and equity.

Sell it to him that refinancing isn't your plan immediately, and break out how much interest he'll make in 7.5 years at that higher offered rate (even though you know you'll never pay that) for the little bit of risk that you'll actually refinance before then (wink, wink).

I also plan to ask if they will break out their remodeling costs so that my CPA can accurately depreciate the work done on the property.I was wondering if any of the BP community has a checklist that they use when interviewing and hiring a contractor?

You will want to break out the lot rent and make sure and only capitalize that amount from the $500/month charged for the park owned homes.

I am the definition of a local Pittsburgh investor, and I have nothing to gain or lose through any sort of interaction with you.The thought buying anything in Pittsburgh sight unseen for any reason with the help of people I'm not related by blood or marriage to makes me break out in a cold sweat.

An appraiser, if requested, can easily break out the land vs building values.

But this breakout over 50 means a lot of non-cash buyers are moving in.