If your park was the cheapest around (under market) then any new owner is going to bring up rents.

So, coming up with more capital to invest in another property requires some creative thinking.

I think the IRS might tag this as fraud.Talk to you Title Company.

Working to systemize this business to run efficiently with future limited supervision to then take the cashflow/profits to continue investing in building our long term rental portfolio as well as invest in other business endeavors.

Looking forward to sharing and networking. 

If you decide to sell and find an investment property with a greater cash flow potential.A 1031 exchange would allow you to indefinitely all of the tax and use it to your advantage to reinvest into larger nicer property/properties.

And it's wrong for you to attempt that.

I'm happy to refer you to a company that helped setup mine.

Evaluate the situation to see if you could have done anything differently to mitigate the loss and implement changes to your processes, but know that this happens and hoepfully just not too close together. 

I realize it's just an example and my comment is a generalization but just something to be aware of.With regards to the original question, I think it comes down more to what you want to do and what the offer is for walking away vs. rebuilding.That is the exact example a public insurance adjuster used when speaking to a local investor group a few years ago.