using this form of financing is a great way to acquire/fix a property but if you are looking to hold long term you would want to find long term financing. 

How did you find this deal and how did you negotiate it?

Are there any other resources you could recommend to find beginner parks?

I find I learn best when I can see real examples vs. hypotheticals.

Provide a detailed accounting of deductions, along with the invoices, to show you’re acting in good faith.

Anytime you do $100K worth of work, you find surprises, so the real number is probably even higher. 

Hello,I've recently picked my market for finding a LTR.

It's not illegal provided you're dislosing it to all parties and not trying to actively hid it.

I will research my market to find out what's required for my state.

One major things to consider that many newer investors miss with 5+ units, is that if you intend to hold, the property will need to be at least 75% occupied and stabilized before you will be able to find reasonable financing terms.