Buy places in nice areas because those also tend to weather downturns better. 

Property is in okay condition but has some leaking pipes in basement and needs  a water line for the 2nd unit to have better water pressure.

However, they provided a receipt with these concerning observations.Now, the township wants additional information about the drain field's working condition.

Lawyers aren't trained to know location, neighborhoods, property conditions. 

Some may want to move and then you'll be left with an older, used mobile home which you may have to fix up or trade in for a newer, used mobile home depending on the condition. 

You will have a difficult time selling the park with the house attached down the road even after you fill it up and improve the CAP.And a second word of caution since I am sitting here spewing advice... those two vacant TOH homes depending on condition and the 6 vacant spaces should have zero value in establishing the park's value. 

Just realize that it requires many specific conditions to be met, and has much greater risk elements that you need to be prepared to potentially go wrong.

It depends on the condition, but if it passes a 4-point inspection, I would definitely go for a novation first because they need help with bills, so you could probably support them with that while getting a retail buyer.

When walking the property, check on the condition of the units.

Could you get out of it at 0 selling it cash in this condition?