So, yes, technically your wife can count towards the occupation requirement, but it's geared more for military members PCS'ing or setting up a household in a new location before the veteran can occupy the home, or a member on tour in one of those unaccompanied "hardship" locations where families aren't welcome, or on deployment, not for a couple who live in the same major metropolitan area.  

I already know the taxes for both properties and I have called the utility companies to get a round about number for utilities, but I wasn't sure if there is a specific document that may give me a comprehensive overview of the profits and losses for the current owner. 

Extremely simplistic reasoning, beyond normal comprehension. 

You will have high turnover and if you remember when you were 18-22 you may have not been the cleanest or quietest person in your household. 

Of course that's no guarantee it can't be repealed, but I would think it very unlikely especially noting our current POTUS's comprehensive real estate activities.

Here are the key data points:Park info  Located in Alabama61 lots25 owner occupied homes18 park owned homes (14 currently rented; 4 currently being repaired and should be rented soon)18 vacant lotsAvg lot rent - $160 (unknown what the market rate is but it doesn't sound like there has been a rent increase in at least a year, maybe more)Avg POH rent - $400Expense ratio - seller claims 26% but I'm estimating 35% for the lots and 50% for the POH'sCity water - individually meteredSeptic - good condition (allegedly); a couple were pumped last year, none this year (no lagoon thank heavens)Seller claims gross income $130k, expenses $30k, and NOI $100kI calculated gross income of ~$135k, expenses of $60k (55% on POH and 35% on lot rentals), and NOI of $75kOther infoMom & pop seller, but park is listed with a brokerPark has been on the market for > 3 years (recent price reduction)Greater metro area stats look goodPopulation = 115kMedian home price = $105kUnemployment < 8%Household income > $40kHousing vacancy ~ 15%Closest Walmart is 7 miles awayFreeway is 1.5 miles awayNumbersMy valuation is coming out about $80k-$100k under the seller's asking priceWith conventional financing I'd be hoping for a purchase price of $500k, $100k down @ 6% over 20 years (not sure if this is plausible or not)Assuming that financing, I'm expecting net cash flow of $40k (after debt service)Upside potential is in raising rent and filling the 18 vacant lotsFollowing the same assumptions above, raising rent $50 (if the market supports it) would change NOI to ~$90k and net cash flow of just over $50kFilling the vacant lots could potentially increase gross rent up to somewhere between $150k-$200k, depending on what the appropriate occupancy rate is for the areaWithout verifying any of the above information (haven't offered anything yet so there's a lot of DD left to do), the deal seems to make sense. 

Median gross rent of $530, median household income of $25,000.

Put together a comprehensive business plan.  

It was slow, unfulfilling, and left me feeling broke, not like someone who was doing better than 90% of households.

Thanks @Max Householder for the shout out.