Somebody from NJ posted this in a separate thread about 21 days ago and I meant this thread to be a one-stop place to gather information on good wholesaling practices, so I am going to link to the thread I took it from and copy the text below. https://www.biggerpockets.com/forums/93/topics/1194082-5-tips-to-create-a-real-wholesaling-business-and-not-a-chop-shop?

I will do a separate post.

What type of insurance do they have that allows them to run that business and why couldn’t those of us with Airbnb’s do the same with a separate agreement?

So yes separation would trigger automatic sell.The exception for this is perhaps midwest.

its a 4  unit mobile home park, all POH, 100% occupancy with slightly undermarket rents  separate sceptic and a single well.At the asking price of $240K, there is 12% cap rate. 

Should I rent it room by room while keeping the residences separate?

What's interesting is that many PMCs charge a separate fee to send owners an Annual Owner Statement.

I have a completely separate entity that my wife and I own for our "passive" investments. 

Keep in mind separating utilities so each unit has their own is an entirely separate factor you'll want to take into consideration other wise the bill gets put onto the landlord if you don't have things separated, over time that becomes a huge expense.

Unlike your situation, the parcels were always separate from each other, but the sellers loan was collateralized against both the single family home parcel as well as the vacant parcel.