If the property required no work and you wanted to put 10% down, you can't be more than $375k all in (purchase + rehab) in order to achieve this.

@Dave Foster - good point@Justin Frye - my feedback is assuming the property would achieve my performance goals even with the new debt service created from of the refi

We want to build an accountability system with one another to help each other achieve our goals in real estate.

How can REI be used to help him achieve what he wants?

Best to get pre-approved so we can see what we can do and let you know where to improve or any potential problems in achieving what you want to do.

Are you aware of any other ways I can go about achieving my goal?

I feel that investing out of state is the best plan to achieve what I am looking for. 

I'm worried about buying  a park and not achieving high occupancy due to a lack of interest in the market.Any thoughts? 

The seller will capture some of the potential and the buyer will discount the future potential against the risk and cost of achieving it and that means you will meet somewhere in the middle.The best way to figure it out is to build a pro forma showing the schedule and costs involved and figure out how much you are willing to pay to achieve your investment goals.

Thanks again to BiggerPockets for helping me to stay motivated and achieve the first of my goals.