We have also been really patient and polite to our landlord in all forms of communication, but the issue still arises that we have no hot water.

You and we waive any right to demand a jury trial concerning the litigation of any matters arising between us.

Even if they accept another low ball offer from you, you still must contend with the other potential costly issues when they arise... and they WILL arise.

I will use his services again when the need arises.

Demonstrate that you (or your designee - the PM) provide habitable housing and respond appropriately to problems as they arise. 

With regards to a STRATEGY many questions arise.  

Multi-units have better cash flow and more cushion for issues that arise.

—I’m skipping details to see what questions arise.

Have your partners get their own attorney to review the document...just smart business practice so that no one accuses another of "hiding something" if a problem ever arises down the road.  

This park is fairly small so either you will need to manage it or have a part-time manager nearby to handle issues when they inevitably arise.