If your rent is significantly below market for the area, you are essentially operating a charity.  

It allows you to access funds as needed without the immediate commitment of a large lump sum, like with a cash-out refinance.Given your focus on maintaining positive cash flow, carefully evaluating the terms of any HELOC offer is essential.

If you're self-managing, having a reliable team of cleaners is essential, as a spotless property leads to great reviews and repeat guests.

Expenses are essentially overstated, even though the P&L is correct (when I download transactions from the bank, it allows me to tell which account on the COA I want the credit to post to, but the Expenses screen doesn't update).Journal entries also don't show up on this screen.

Build a Local Team: Reliable contractors and property managers are essential.3.

Having the right team in place is essential for making informed decisions based on solid analysis and expert advice.Good luck!

You also have options like 30 Year Fixed, 30 Year 5/6ARM, 40 Year and Interest only (maximizes cash flow).You are essentially acting as your own bank by using the equity and selecting the best rate/term to benefit cash flow.

Overall Cost-Effectiveness: Is there any real financial benefit to taking this route, or is it essentially the same as just selling?

The 2nd reason to stay away from park owned homes, is that you lose the advantage of the MHP, which is essentially a trapped tenant, because they own their house, and they cannot move it, you have a guaranteed renter. 

By staying inside of my comfort zone i have essentially created a whole other full time job and twice the headache with 1 single rental.