I recently came across 1 acre asking for 314k in a very good residential and growing location, so the current owner has added 4 manufactured homes with 4 electrical meters, 4 septic tanks and only 1 water meter for all 4 homes, the homes are sitting on partial slab and partial pier & beam, he also added 2 storage sheds approx. 380sqft with the intention to make them ADUs they are still only the shell so I would have to get those ready to live in, so currently the 4 manufactured homes are being rented and bringing in 2800k a month, 3 of the homes are needing some TLC which could increment rents and possibly get me at 3600k a month, also being a 1ac lot this still leaves about 12,000sqft of raw land where you could build etc.So that is on the good side now the things I did not like so much, the lay out is poorly executed to where it makes it looked crammed up and not professional but it could be fixed.Another is that in reality there is only 4 livable units so that qualifies under a conventional loan but since they're are 6 units on the property the banks are wanting to take it as a commercial so we would have to move out the 2 storage sheds out in order to close as conventional.Another concern, technically you are only allowed to have one manufactured house or single wide in your property according to what I know but I know it could change according to zoning which I will investigate, so my question is has all this been accounted for and if so how can I verify it so it wont leave me in a bind further down the road, I currently asked my agent for the appraisal of the property to see if that might verify.Any recommendations?

I feel confidant that your knowledge and expertise will bring you much success in your market.  

You can go to a CU or local bank but they want a wad a cash from you for skin in the game and your going to have a rough interest rate. 

Non-recourse has less personal exposure, but you need a very strong balance sheet to secure this without bringing in a KP.

And I would constantly bring up that I would love to buy the property he was living in.

That said, be prepared to act fast on non REOs, or shell out a little more than usual and bring an inspector during tours.

For my money, I'd look there and let the market bring you up.

For example I don’t know of any say plumber that charges $120 an hour but brings two guys and charges $240.  

I was going to bring up that the seller financing doesn’t matter if you plan to get a construction loan as the seller financing will have to be paid off. 

We are considering stepping in and trying to buy the place, but looking for some guidance on STR and what kind of money this place can bring in.