However, since you mentioned the RV park residents are mostly permanent, most of the guidance will apply.

You can make a mobile home into real estate property through affixing it to a permanent foundation, check your state and local laws on how to do this. 

Rehab and then permanent... and a $22K rehab loan?

It seems that all my MTM leases just became de facto permanent term leases. 

@Brandon Payne courtesy of Cameron Harris, here is some great high-level info.2018 State of Downtown Indy: https://patch.com/indiana/indianapolis/2018-state-downtown-downtown-indy-inc-shares-growthRedevelopment of PanAm Plaza: https://amp.indystar.com/amp/1646337002Old Airport Site Redevelopment: https://www.ibj.com/articles/70966-airport-board-approves-214m-land-sale-for-infosys-campusThe Lawn @ White River: https://www.ibj.com/articles/70671-state-plans-27m-permanent-concert-venue-for-white-river-state-parkTwin Aire Development Plan: https://lisc.app.box.com/s/0389cx7xicqpnpay1ov4fdabxboiutulIndy Go Red Line Rapid Transit: https://www.indygored.comI have a bunch of notes on economics and affordability, community development, and business growth as well if you're interested.Actually I am also moving there as well (on Sunday!)

Once you've completed the project, can you apply immediately for the permanent financing, or does the bank want to see stable rents over a certain period?

Per your own statement, the door will become permanent to the apartment?

If you want to buy and hold, you'll need a bigger down payment to buy something out of area that won't be your permanent residence. 

Would you rather try to find a bank funding my investment in the US or in Italy (I am a US permanent resident with income only in the US but I am also an Italian citizen).

If you are permanently disabled, you may be able to get the VA funding fee waived.