Keep your budget in mind for quality improvements, check local regulations and manage pricing.

You mentioned the rents were below market rate...if you do the improvements/repairs needed, how sure are you that you could increase the rents? 

On Buy & Hold: They must have at least six months’ worth of operating expenses in addition to downpayment if financing, closing costs and improvement funds if they are upgrading the property.

And there may be somewhat of a combination of site improvements included (sewer/septic, water service, etc, to the MH sites).Then the income approach would be looking at the cap rates, as Roger mentioned.

this is a toughie. hard money specifically is equity-driven, meaning they'll likely want 40%+ down to even entertain the deal. additionally, land without improvements is often very inexpensive (relative to land with improvements), usually pushing below a threshold which makes sense for a hard money lender. if you're not intending to build right away, then i think you'll have the best luck with private money instead of hard money. usually higher leverages than hard money, and more negotiable terms.if you are intending to build on it pretty right away, a ground-up construction loan could work, but those will typically require some ground-up construction experience (on title on other ground-up deals), or an extensive portfolio of heavy rehabs/ rentals/ strong liquidity. those will give you acquisition monies (to buy the land) and build monies (to build the improvements).

What has the current administration done over the past 4 years to improve things in this country?

Not because it has broken but to improve stuff.Either way an older home requires more maintenance than a newer build until those systems that wear out are replaced (like the heating/AC)We are 7+ hours from our lake house and we self manage it just fine and have been for the last 6 years.Regarding the LLC, will you be paying all cash for the property?

And while it's all coming together, I saw a lot of things that I liked - job growth, planning and development, infrastructure improvements etc.  

It’s worth considering how we can encourage and support these arrangements to improve the quality of life for older adults.

We've lost money on flips which can hurt your pride a bit, but we took those lessons learned and improved every part of our process.