I found a 300 unit park in a downtrodden town with high unemployment and high crime. There are some nice parks not too far away, but also some bad ones. This a rare area with a glut of parks.
I can buy this thing for the back taxes and back water bill ~300k and an additional 100k to the seller with 25k down. Doesn’t it make sense to buy and then re-sell and make a quick 50k? There are a lot of buyers out there looking for any deal.