There are no restrictions preventing out-of-state investors from purchasing rental properties in Texas—these investors enjoy the same opportunities as Texas residents.Additionally, the financing restrictions you mentioned don’t align with reality.

Have you always invested in owning the parks, or have you purchased some individual mobile homes in parks you haven't owned also? 

What if I told you that you could purchase this property at 20-30% of the initial price, would you take that deal? 

Purchase price: $490,000 This is a unique opportunity to participate as a investor in a single family residence valued at $3M and higher.

I'm not a fan of novations where you don't get the purchase agreement notarized and filed at the courthouse.

As we all know, you are really paying for the commission in the purchase price. 

If you are looking to just calculate profitability, set how much profit you want to make then:ARV - Purchase Costs - Holding Costs - Selling Costs - Desired Profit - Rehab Budget (including contingency) = Maximum Allowable OfferIF you cannot calculate those numbers, a spreadsheet isn't going to help you. 

Quote from @Laurens Van swol: We are exploring the possibility of purchasing an investment property in Florida.

I am under contract to purchase a Quadplex.

You can find some 2 units under or around $250K but they have been sitting on the market for over 150 days which tells you its not a great deal if it were an investor woud have already purchased it 4 month ago.