But you left out a keyword “qualified”.

With Nomad, you're paying a lot of extra money for a guarantee that is not necessary with skilled and experienced property management combined with masterful recommendations for property condition; i.e. what a property needs in order to be rent-ready to the degree that qualified candidates will be attracted to rent the property. 

This helps break down the purchase price between the land, the trailers (which may qualify as personal property), and any improvements like utility hookups.

Our mortgage was significantly higher than our flood insurance, and I don't know if we qualify to try to apply for FEMA or if there is other assistance, and if so, if we would apply as a business (we file it on our personal taxes as rental income).

The asset has to qualify, it is typically not based on your personal qualifications.

My question is once I have a deal signed for an apartment with seller carrying back down payment I need a partner/guarantor which would help qualify for bank loan with their income and cover closing costs. 

Owner of real property needs a loan, but does not qualify under institutional financing criteria2.

@Connor ChanterI'm not a CPA but based on your post as long as your mom is the owner of the house in Michigan she should qualify for the $500k capital gains exemption.

Would need to know a bit more to say for sure, but be sure to ask about those benefits you might qualify for.

It's a pretty interesting concept if you qualify for it.