Hoping to get some thoughts from the community on this. I am currently in due diligence to purchase my first park in WI that has 2 RTO contracts in place. From my understanding, these contracts are illegal as they require the tenants to perform all maintenance, etc. There is only approximately $6k worth of value left on the contracts.
How would you remedy this with the seller? Perhaps I ask the seller to eat the small cost here and gift the homes to the existing tenants early?
Thanks in advance for any input!