Quote from @Brian Hudson: My partners and I are about to take over a neglected RV park.

To the point where we strongly feel the property management team neglected our property and did not manage in our financial interests at all.

Just scroll to the bottom of your listing link and you can see 4 places that are quite a bit nicer for under $1500.You are offering small 900sqft with an original kitchen, only ONE bathroom that is dated and has no counter space, an interior that is a mix of finishes and colors, tile ceiling, super basic light fixtures, no garage and a totally overgrown yard - all of that screams total neglect.

Has anyone successfully executed a subject to deal with similar circumstances and if so how did you structure it so the bank was on board?

Quote from @Dalton Foote: @Patrick O'Sullivan Agreed, units managed and circumstances matter @Dalton Foote Company valuation is a big factor that often gets overlooked.

Abandoned/Zombie /Neglected (buying properties “off market” that others don’t know about, cheaply6.

But here’s the reality: neglecting your tenants comes with a cost that doesn’t show up on a balance sheet—until it does.Unhappy tenants don’t just churn faster.

It is difficult to find reliable comps for individual room rentals, which makes it harder for them to confidently justify the income you're projecting.Perceived Higher Risk: From a lender's perspective, renting to multiple, unrelated tenants can signal:Higher Vacancy Risk: Turnover is naturally higher with individual room leases.More Management Intensive: More tenants mean more potential for issues, which they worry could lead to neglect and property deterioration.Business vs.

Seems like this sort of property has been neglected for far too long long!

Abandoned/Zombie /Neglected (buying properties “off market” that others don’t know about, cheaply 6.