Your experience and explanations are wonderful for a newbie like myself : ) greatly appreciated!

You have to find the problem with the place and solve it to reap the rewards Thanks for the thorough explanation with numbers to illustrate.

Normally, any "Red flags" like this are resolved with an LOE (Letter of Explanation).

Since we're in a very similar place, both geographically and in REI, I'd be happy to meet up to network and see how we could help each other in the future.  

If you and the property qualify, and if you can wait as the lenders micro examine every minute and seemingly irrelevant piece of information asking for explanations of anything and everything in your life, then conventional loans will be a lower cost factor in your investment than private loans.

It is what it is and needs no explanation that*actual numbers were not used.Any explanation of the rent to price ratio?

Once the portfolio is large enough you live of the cash flow leaving equity for portfolio building - but always tax deferred inside the 1031s.Dave,Thanks for the explanation, you obviously know 1031's inside & out.  

I re-explained the deal to him using obscure explanations to guard the deal.

To the investors who own several parks in several different geographical locations and states wouldn't it make sense to create the entity in the state to where the park is located?  

There is a little more explanation behind it on John Burns Real Estate Consulting website.