My point is makes sure your addresses for payroll, mail and motor vehicle match your physical location.

I am physically located in WA state.

I was told by our local HUD representative that we would have to fill out a HUD form 2530 and go through the Transfer of Physical Assets process to complete the purchase of this property, even though we are not going to purchase this property with a HUD backed loan.  

You still want someone local to have a physical key in case of emergency to get in. 

But they cannot do it since I cannot be physically present.

I don't plan on seeing the property physically.

Most of our properties are out of state, so we prefer to have PMs just bc we can’t address most of the issues ourselves physically there. — screen your PM carefully and we’d rather pay a little more for better PMs than some flat fee PMs.

In general, many residents are OK with lot rent being raised as long as the costs are justified and they can physically see where the money is going with the types of upgrades and improvements made to the park.

Lesson learned here is start working on your investor documents immediately after you've completed the bulk of the due diligence activities including financial reviews and physical inspections.

@Alejandro Moreno  I don't physically live in Chattanooga myself so I'm missing out on the opportunity to meet with you but it sounds like you're looking for some help and I'm always willing to chat and share what I know.