Land is very risky, and being in hawaii makes it even more challenging - thus reason we see higher rates on land. could it be less, yes, it could be in the 15% range but i would be shocked if someone would be in the 10-13% range.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

Hosts can get involved by either donating a portion of rents from their payouts or they can offer housing at a discounted rate.

There are many investors that look at promises ROI or interest rate and nothing more.  

Would the investor have to use an assignment contract between him and new end buyer to collect the mark-up fee aka assignment fee at closing?

that is more a RV park. the MBH parks down here. we typically own the land, lot, and trailers. there is a reason but long story short, if i just own the lot and they dont pay the fee. i do not have the biggest teeth to push the need for my money. but if i own it all, my experience says it is a better path

Spend a year learning and going to meetups before you fork over a $50-$100k franchise fee and half of your profits and don't even know what you are doing.

It was off market, I paid a local bird dog $20k for helping to get it to the close and even including that $20k at market rate it met the 1% rule.Today my underwriting would not have a 1% ratio with 80% LTV as positive cash flow in class C.  

And, yes, there are years of data points to validate that just within my office, tens of thousands of dollars of wasted appraisal and inspection fees for deals (mostly not mine, thankfully) that had 0.00% of going anywhere but the "Loan Application Declined" bin. 

If have investment property, we are looking for relatively updated units (we are ok doing some work ourselves), class C+/B tenants, with rents either close to market rate or that can be increased.