If you continue making payments on the 1st, they may do nothing and keep accepting payments.

If he accepts my offer of 150k cash then 6% goes right off immediate leaving him with 141k minus 94k loan to even less.I’ll update after tomorrow.

This business will test you in every human way possible. 

The coating isn't acceptable for insurance engagement on residential properties.   

Challenge accepted, with or without Blinks help. 

You also have to have a system in place to vet your guest (which Airbnb doesn't do anyway - all they do is "verify" their identity), create a lease agreement, accept deposits and payments and issue refunds of deposits.

Pop culture has made it acceptable to vilify property owners/landlords because they are the "nemesis you see" when you cannot pay your rent. 

The insurance market is very tight right now especially on older buildings.Many carriers who have policies on the books will not accept those same properties as "new business" or if they do the rates are 2x-10x what the current policy premium is. 

I know in Washington state a home owner can do their own work including electrical and plumbing, but as you pointed out has to live in the property for 1 year after completion.If you get licensed as a contractor (in WA state it takes some paperwork, filing fee and insurance/ bond, no test, no experience etc.. )  Then you do the work under you contractors license and no holding period needed. 

When you meet with the contractors, make sure to have them help you understand what you have, what will be required to repair and maintain what you have, and what you should be budgeting for future capital improvements, if needed.As we go through DD, we are also putting together the strategy for the park, performing our rent survey, running our test marketing to understand the demand in the market, and creating the budget for the project.All the best,Jack