The papers had a chart with the horizontal heading "Average monthly rent" for a 835 sq. ft. unit across the top and on  the left  vertical side was the exit CAP rate  (36 month hold). 

This means you are doing it strictly for the cash flow.If it were me, I would go the ADU route, Rents could be comparable to the condo without the HOA dues (yes higher Cap-Ex but those are long term expenses), and with everything on one property, things are just easier to manage (one mortgage, one property tax bill, one insurance, etc.). 

If you are going to tie up your capital on something this small as a TOH park you should require a higher CAP rate of 10-15%.  10% cap puts you at $77k; 15% puts you at 51k. 

Without a great next move option like I had before (eliminating debt), paying cap gains to get to a cash position is very expensive.

That’s step 1. step 2 - contact a local commercial broker and ask what the avg cap rate is in the area for SS units. step 3 - use the cap rate the broker provided and the NOI from the docs the seller gave you. 

What is your current expected cap rate and your current expected cash-on-cash return? 

Sounds like an ingoing 5% cap rate if you assume zero vacancy.

Rents will be higher (unless they set some rent cap) because Landlords will raise rents when possible to prolong the need for any increases on current Tenants to avoid the 90 day rule.

When I started the actual application process, yes, they do up to 95% LTV, BUT they cap it at $50k. 

No seasoning.Key Bank, FLorida flexible lender, HELOCs on second homes and rental properties. 90% LTV on primary.PenFed - max 3 other properties, 89% LTVRegions- yes HELOC but no LOCSCCU Florida 70% LTV, 6.25% interest only, not LLCSound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv.”TD BankTIAA Direct was EverBankTower FCU, all states except TX, max 45 DTI, green card ok.