We do operate within an LLC, but our arrangement for the rehabbing is a Joint Venture, with the other party also operating as a LLC.  

A good management company can stay on top of these items as well as the day to day operations.

Also thinking the poured in place option vs poured upside down then installed later,,,to be an easier one man band operation,,,more forgiving IF walls are imperfect. 

@Brian Gibbons, in your opinion, since he's the owner and not the assignor (ie: investor like me), is the lease option still a bad choice (as long as he still complies with the NC lease option laws?)

They also pay for administrative costs such as updating the HOA home owner’s directory, billings and collections, covenant enforcement, routine legal costs, maintaining a web site, posting HOA governing documents on the web site, administrative staff, and other operational costs.

@Tyisha G. like so many businesses, there are some turn-key ("TK") opportunities that are excellent operators and hitting the returns they promise, and there are some awful, inexperienced and/or crooked TK operators.I think the best thing would do is to reach out to many TK operators and just start talking to them and learning and discussing their business model with them and what you're looking for.

These guys are one of the largest MHP owners / operators in the country and have been great for helping us to invest in these smartly.http://www.mobilehomeuniversity.com/mobile-home-park-investing-books-and-courses/mobile-home-park-due-diligence-manual.php

I have experience operating businesses but am constantly on the quest to learn more. 

Sometimes, coupling an operational LLC with a land trust is a fantastic idea.

They are very experienced investors, and operate with total integrity.