I own thirteen mobiles in one of my parks and the only way it pencils is that we A) take very good care of the homes staying ahead on the maintenance, B) Rents are high in the area so we can charge $550 over the pad rent which is $450- so $1000 per month.  

It’s not uncommon to rent by the room to individuals, but it requires some careful management.

There is a tremendous amount of bad information being spread here, so be careful who you're taking advice from.  1. 

That's up to the lender, but many don't care for layered structures.

There is also the lending field which is quite lucrative if your more into financecommercial real estate if some day you want to be doing bigger deals and making 6 figure commissions checks.. etc etc.to try to start your business as a flipper or wholesaler is tough and it has a 95% failure rate being that it appeals to the mass's of which many frankly don't have the skills to succeed or the financing behind them.OR converselyMake money at your chosen profession save and buy and hold.. buy the best you can hold for long term.. same with buying securities .

Take care of any reasonable property related issues quickly and expect your tenant(s) to take care of their responsibilities quickly also. 

Do they care if it's financed or cash? 

I would be careful about doing something in an effort to "make positive cash flow".Section 8 has its pros but there are an equal number of drawbacks.

HOWEVER, I recommend reading Stuart's advice above very carefully and perhaps soliciting his feedback on the deal in more detail before putting too much more time into it. 

Dealing with the accountant first, who cares?