@Roy Gottesdiener What you don't cover is the growth potential for the six single family homes you currently own.  

Then in a year I would move back to Nevada or to another multi unit home in Utah.I do not have a significant income but his income would easily cover both mortgages.

Don't pay for a park's future potential if you are the one who will be doing all the work.The $70k the two TOH rentals are worth at an 8 CAP probably doesn't cover the drawdown the house value will have sitting in a half vacant mobile home park.  

Insurance rental license once per year water bills since Section eight doesn’t cover that on duplexes with 1 meter.

Our thought here is that we will cash flow enough to cover property taxes, insurance, and management fees and possibly net $500-$1000 per month in profit.

It is important that my umbrella policy cover vehicles for reasons that are not important.  

This could be good if you plan to raise rents quickly, but it could also be risky if you’re counting on steady income to cover expenses.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

How would you structure a deal so that the private money could cover the down payment and fund the rehab in order to minimize money out of your pocket and being able to pay the private lender off when you refinance? 

And ideally sell it 4 years later.If I can more or less count on the renting of additional bedrooms to cover the running costs of the house, I'm really only looking at taking a hit on the buying/selling costs - which SHOULD be lower than what it would cost to house him in dorms for 4 years.I feel like this is pretty obvious and easy (not trying to make significant money here, just thinking I could save $10-$20k on housing costs over 4 years).