Especially if that’s the culture in all local MHP’s in the area.I’ve heard people have success with offering a proposal of having their payment be the same and they own the house in x years - therefore reponsible for repairs and get to be proud homeowners!

If so, is it enough to provide two pro formas: one showing the current rent roll and proposed purchase price and one showing the projected rents upon full rehab?

I find myself in the situation you're proposing.

Business needs to cash flow to cover existing and proposed debt by 1.2-1.3X.

To the best of my knowledge, the fact that you already have the proposed property under contract prior to the sale of the relinquished property does NOT make a difference.Just don't close on the replacement property until AFTER you sell the relinquished property.Here's a link to a great explanation of the identification rules:https://firstexchange.com/content/top-ten-identification-rules-1031-exchangesThe resident 1031 expert on BP is @Dave Foster. 

Your proposed method should work.

If the answer is yes, then Opportunity Zones both enhance the potential for your own balance sheet, and allow you to redeploy capital from other investments.The two greatest unknowns that concern me are the duration of the investment for tax free gains, and future legislative changes that can dramatically alter the policy.

With that in mind...proposed template. 

Projects due gonsouth for numerous reasons and in these scenarios the financial partner will be holding 100% of the lossHave you ever do a deal similar to what the OP proposes?  

So on a one-off like what you're proposing, I think you should expect to spend about the same amount of money.