I found this article that allows Fannie Mae and Freddie Mac loans to move the loan to an LLC: https://servicing-guide.fanniemae.com/THE-SERVICING-GUIDE/Pa...as long as I am the majority owner in the LLC. 

One of my most profitable STRs ventures is not in a vacation market but it is a unique experience that is within an hour of a major metro hub.

I have construction loan on the current house I'm building and used similar strategy (land was purchased outright and used to cover majority of the down payment).

The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

I put a lot of time into listing and title, so likely good there.For amenties, I do have some of the major ones referenced - hot tub, Wifi, and stocked kitchen.

Now how do they pay a 12% return if the majority of the parks are not profitable?

You are likely overpaying by $5,000.Broker fee of $3,000 and Processing Fees of $2,000 seem out of place...but then again, i never used a broker to get a loan so I am not sure about that.If the broker was able to get you an interest rate or loan product that you wouldn't be able to find on the open market...its high, but likely fair.if you are getting a loan product that you could have gotten by going to a normal bank...seems high and unnecessary. 

It was a rental for us about 1-2 yrs after a major remodel.

My hunch is that more often than not, saving money and getting your ship in order to qualify for an FHA loan is the best and most realistic ladder to homeownership for the vast majority of people.     

The vast majority of new construction, especially in Denver metro and the surrounding communities, has been multifamily and townhomes.