That is, in this case, you should start at the end (the bank) and work your way backwards (on how to structure the deal with the seller).Might not be much help, but the advice is to talk to the banks before anyone else so you can pave the way to a smooth refi.

-city sewer/water (I am not sure if master meter or if included in pad rent price, but will find out)-Laundry room, workshop, paved road-I am not positive, but believe it is 55+ community-Gross Rents= 121,200-Expenses: Vacancy- 9,696 (8%), Insurance 2,500, Taxes 7,000, Management (8%)- 9,696, Maintenance/Repair (5%)- 6,060, Garbage- 2,000, Lawn- 2,500= Total expenses 39,452-NOI= 81,748- One question here, should I be including the payments for the 7 park owned properties?

A century later, two of the most common methods were either direct ownership of property or through partnerships, which pooled investor resources to purchase a property.These partnerships eventually paved the way for the first official limited partnerships, or LPs, which appeared in the 1950s as a way to combine funds from multiple investors to put into real estate assets.

Assumptions:- This park is 100% TOHs so no mobile homes to depreciate-  No clubhouse, other amenities, or real property to depreciate (the only structure is a small pump building)- As far as existing infrastructure, the park is on well and septic (multiple systems), sewer/water lines, paved roads, electric to all pads--all that have considerable value when considering replacement costsI've negotiated a below FMV purchase price directly with the current owner for the amount of the current assessed land tax value (and the tax assessment doesn't reflect any assessed land improvements (buildings) since they aren't any).Here are the main questions with regard to depreciation:1)  If my purchase price is the same as the assessed land value, will I have any depreciable basis going into the project in the eyes of the IRS? 

What about just paving the lot and renting out parking spaces.

When I got there, I noticed not a single square foot of the paved driveway was 1 whole piece, the pool liner was stretched off the walls down to the deep end where a new ecosystem was forming. cracks in the grout of the brick (foundation issues, potentially), tarp on part of the roof (but the whole thing was garbage anyway), water damage throughout and a thriving community of mold.

Based on your post, I'll guess that you'll find the following:- concrete is a permeable, hygroscopic material.

Freshly paved roads in the park (paid fir by park owner) and to the park.

You might have a winner here but I am betting that you have missed something or have incorrect info from your ins agent (needs to know the property is a rental) / property tax numbers (look for state/county and CITY property taxes not just county taxes) / attend a HOA meeting meet the leadership and get a feel for their agenda IE New roofs Paving etc that will cause fee surges.

There was quite a bit of deferred maintenance on the property and the parking lot had to be re-paved but nothing too intense had to be repaired or replaced.After we purchased the property and put a new PM in, the first thing we did was make a call the local housing authority in charge of section 8 and seek rental increases for the few subsidized tenants we already had.