Remember that value is derived from multiple points: tax benefits, cashflow, market appreciation, and/or forced appreciation. 

You need to put on the brakes for a moment and derive three possible outcomes; 1) your "best case" which is what you put in this post 2) your "worst case" which is that you have a 10-apce RV park and a doublewide and nothing more and 3) your "realistic case" which is adding on some additional RV lots at a more accurate cost (you need actual bids) and with a safe amount of vacancy expectations plus renting the doublewide for maybe $800 per month.If you can survive the "worst case", are happy with the 'realistic case" and ecstatic with the "best case" then go forward.

Is NET income exclusively derived from tax returns?

The income will be derived from 100% of your personal deposits or 50% of your business deposits. 

I don't think the developer would derive any tax advantage under the QOZ rules for having that intent.

(they don’t want it back and to move it themselves, they want you to sell it and come back for more business) Now considering the number of properties funded at any given moment and the ROI these HML’s are getting, it would be quite an extraordinary thing to go through this entire process and not having them work with you on this (because the amount of money stood to be lost in these proceedings eats back into the amount derived from things such as an extension on the loan and simply charging you points for doing so) Again, the ‘worse case scenario’ here I’m describing.Having said ALL of this and hopping over to PMI- this really depends on your PMI source- it could be easily assumed that for some people, working with the 'Frist Bank of Mom and Dad' as your PMI would be less complicated and seem less cumbersome (not in all cases and 'mom & dad; could be anyone) Odds are if they aren't related to you the ROI they expect could be much higher than a relative (on avg it seems maybe around 10%+, whereas a family member may ask for prime alone or something like .5%-1% above prime) My best advice would be to speak with possible PMIs you may already know as well as HMLs and simply become educated on what their requirements are- knowing what you qualify for, or alternatively don't (if you can take HMLs off the table right away knowing before you apply you don't qualify, it's going to save time in working your PMI angle faster) The single MOST important thing to keep in mind above all else is this; no matter who you work with PMI or HML- keeping lines of communication open is virial to not only the deal, but any future deals you will have with them (as they are financing) - IF anything looks like it's going to go wrong (say missing a payment) let them know so they can work with you and NEVER against you Hope this helps!

Miscalculated my form 2555 FEIE deduction for working overseas(The FEIE allows one to exclude from their income upto $107,600 for the 2020 tax year if they work and derive their income from working overseas).

For this reason, House 2 will be a comp for you, whereas House 1 will have a value derived from different criteria, and will therefore not be a comp. 

@Tammy TsaiHello Tammy,From what I understand California can be a difficult state to derive cashflow from residential multifamily.

I wanted quote with break downs of the quote, such as demo, electrical, overall appliance install, and finishing touches, so I could take that and derive a draw schedule that makes sense for both parties.