Basically, they don't want to take the risk that if things don't go as planned, having to chase you across the border.Smaller more local banks may be more flexible if you are buying 'small' properties but if you are looking for a mid-sized (250K - 2M) commercial loan - it can be extremely difficult.Good luck - Oren

Positives of the House: Amazing updated high end kitchen all stainless steel appliancesNew RoofCan lighting in all bedrooms, living room, and kitchenHigh End basement bathroom includes Jets in shower wall and Heated tile floorNew Central ACNew FurnaceNew HVAC ducting throughoutNewer Vinyl SidingNewer guttersMany newer vinyl windowsNewly wired for gigabit speed ethernet in all roomsOpen cell insulation on second floor roof (solves all cape cod style home problems with ice damming)Nice landscaping both in front and in backGreat curb appealFenced in LotFull BasementOpen concept living roomVery low taxes compared to rest of Lake County IllinoisFinished will have 2 full baths, 3 bedroomsNew copper plumbingNew Natural Gas pipingAll Capital Expenditures are taken care of!

I think these people hurt their case even more by withdrawing from your offer.My application and lease basically say the contract can be nullified if someone lies on their application (mine, too, says "animals", not "pets").  

Basically, BRRRRing the property and recycling the repaid credit line for future growth.

One concern is this:  No other owners in Old Louisville have modern, trendy, updated units so theres no proof of concept.  

The 11 units are the maximum possible on the propertythe tenants have always paid their own utilitiesThe units are all city water and sewerRegular upkeep is that the park occasionally gets new gravels and someone is in place to cut the grass for $75 every 2 weeks and I pay for two street lampsThe property taxes in 2018 were $900The property without the 11 units appraised at $110,000 The trailers themselves aren’t worth a great deal of money I’m sure but the way I’m looking at it I’m buying the whole park is basically buying myself income I expect after taxes and expenses to net at least $2000 a month, does this sound like a winning project?

I have questions galore about the fine details and the practical application of a lot of concepts that I have heard of or learned about.

So the job would be a complete gut and basically a new home for the inside.

You make blanket assertions that basically call every PM a scam artist.

The concept is applicable, but needs $megaBucks to implement.