The CFPB views L/Os in the same way the Tax Code recognizes a sale.

I'd rather not borrow a large sum of money from my parents on a first deal, but at the same time I recognize that money from them would be cheaper than money from just about anywhere else.So ideally, I'd like to use a portfolio lender for the bulk of the loan, and my father for a much smaller chunk.

The feds recognize the underlying IRA owners as exempt, but several states would tax the partnership income.  

Probably should modify that to an experienced and successful investor with a proven track record!

Be aware the law recognizes the it takes longer than 30 days to move a MH so the eviction time is longer.

I've even proven they don't know who owns the note in my own case.

I recognize that is low but wanted a placeholder for management.  

We have done this at the firm I work at for over thirty years and it has proven very successful.

I recognize that long term appreciation is unlikely with this type of property however the cash on cash returns seem strong (for my area) and given the fact that this acquisition will double my units and allow me to begin generating enough free cash flow to begin funding the acquisition of additional properties, it is attractive. 

Then I added a bunch of cash flowing rentals over the years and established a proven track record via tax returns, and suddenly I became unacceptable risk for the bank due to DTI.