Similarly to what Mark Cruse stated above, provide dignified housing, respect your tenants, and either have a good PM or make sure you are updated on the regulations and best practices for placing tenants.  

@Brian Rocha It’s clear why most lenders insist on including rehab funds in the loan, and all of our partner banks follow this practice for fix-and-flip loans to minimize risk and meet securitization standards.

We don't practice discussing the details of private transactions publicly, thats just not good business.

At the very least you get practice running numbers and if you share your thoughts with the realtor they will have a better idea of what you are looking for in the future.

This would further support the recommendation to negotiate a step-down mortgage structure, such as tiered payments or interest rates, to reconcile the seller's valuation expectations with the practical realities of the park’s financial performance and provide a feasible acquisition pathway.

Starting with three T-12s from properties of a similar size and market is a fantastic strategy, and I’ll definitely take your suggestion of setting aside time to really dig into the details.Thank you for the encouragement and practical tips—it’s advice I’ll take to heart as I move forward.

Quote from @Felicia Richardson: Quote from @Jonathan Greene: It's possible, but not always practical.

It's pretty common practice to have something like that in a property management agreement, and if it falls under that limit they're going to pay it and not notify the owner except in regular monthly updates because it is below the threshold of what is an ordinary expense in the course of business.

And of course it goes without saying that any deal of this kind would involve an experienced real estate attorney--especially one that is "great" 😉Thank you for the insight, which is both practical and encouraging!

He wrote a great & practical book – with Parkinson’s, dammit.