⬡ SAMPLE REPORT — IDENTIFYING INFORMATION REDACTED
APEX GLOBAL BUSINESS PARTNERS, LLC · DEAL INTELLIGENCE PLATFORM
⛔ RED LIGHT — DO NOT PROCEED
✕
Deal Metrics
$24K
Stated Annual Income
16.6×
Gross Income Multiple
4.2%
Real Cap Rate (NOI Based)
Math Check
Ask Price
$399,000
Gross Annual Income
$24,000
Est. Expenses (30%)
–$7,200
Est. NOI
~$16,800
Implied Cap Rate
4.2%
DSCR at 70% LTV, 7%
~0.48× ❌
Disqualifying Flags
🔴
FATAL — Wrong Zoning: Parcel is zoned
(Commercial Mixed-Use). This zoning does not permit mobile home parks as a conforming use in this market. Any expansion, redevelopment, or financing event could trigger a non-conforming use review and force closure.
🔴
FATAL — Vacant Land Dressed as Income: The $24K stated income implies approximately $370/pad/year — roughly $31/month per pad. This is below any credible MHP rental rate in any U.S. market. The income is almost certainly from a small portion of occupied pads on month-to-month arrangements. The balance of the 65 pads appears vacant.
🔴
FATAL — DSCR Does Not Work: At any conventional financing structure, debt service on a $399K acquisition exceeds the property's demonstrated income by more than 2:1. This deal cannot be financed and cannot be justified as a cash acquisition at this price.
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SECONDARY — No Disclosed NOI, T12, or Rent Roll: The offering contains no trailing 12-month financials, no verified rent roll, and no expense documentation. Under the 60% confidence rule, insufficient information was provided to justify any further diligence spend.
⛔
Pass — immediately and without counter. This is not a distressed MHP opportunity. It is a vacant or near-vacant land parcel with non-conforming zoning, minimal verifiable income, and a price that cannot be supported by any standard underwriting framework. The zoning issue alone is disqualifying regardless of price. No site visit. No further communication. Move on.