This is a conventional loan where they also cover your PMI (private mortgage insurance).

Obviously the HOA is keeping values in this neighborhood down because an owner would have a mortgage plus another $715/mo for the HOA, which only covers use to a community center but nothing else.Besides holding costs, is there anything else I should be concerned with for a flip on a land lease? 

One of the things we do and recommend to our clients is to purchase a home owners warranty to cover all of the mechanical, electrical and plumbing compenents.

Does he not cover that yet?

The City of Detroit is block-by-block in many Class B & C areas.In our opinion, zip codes cover too large an area.We use Detroit Neighborhoods, which are much smaller than zip codes.

Purchase price: $160,000 Cash invested: $12,500Singe family house-hack renting two bedrooms in a 4-bed, 3 bath, 2-car garage home.What made you interested in investing in this type of deal?

Additionally, there’s always a risk that any pet-related damages could be hidden under furniture or otherwise concealed, potentially leaving us to cover the costs if the security deposit is fully depleted by other expenses (e.g., damages or unpaid rent).

Many lenders allow for low-down-payment options if the rental income covers the loan.You’re approaching this deal thoughtfully, but be sure to communicate the benefits of your offers clearly to overcome resistance from the seller's representative.

That covered pretty much everything! 

Are the renters or the landlord expected to cover rent during the evacuation?