Proof of funds would be a bank statement or some other document indicating the liquidity you have.

Quote from @Chris Seveney: @Charlene Kingsnorth have you had an sec attorney also review what you are doing as if you're are having multiple people as part of a loan participating in it depending on the state this could get you in hot water - so be careful  good point Chris some state allow fractionalized deed of Trust mortgages other do not or require PPM like documents prior to offering them..

They have the choice of finding their own insurance or they can be automatically enrolled in my master policy.

Insurance was way more expensive this time—which I've heard is a nation-wide phenomenon—and it's the first time since the NAR settlement that we've purchased, so we had to cover part of our agent's compensation.

A land contract has been signed in the county between me and my buyer documenting this transaction. 

This is a straightforward and common approach.However, make sure to document the change in the lease renewal or addendum, specifying the new security deposit amount.

The gentleman Chris Koerner seemed well educated on the topic (mobile home park investing) and he gave enough information and follow-up documents that you could take the information and run.

Now you have enough to pique your interest further, but it still gives me the hee-bee-jeebies.Next step is to ask to see the offering documents regarding the syndication.

I agree with y'all.The parents need to have will or any kind of trust document before they die, if they both died and have no documents, the house will go to probate.Having trust will help to avoid probate.  

I made the mistake of letting someone get in one of my first units that was a bit off the 3 times, they were great tenants very kind and enjoyed their stay and experience with me, but could not afford it when I increased the rent on them, which is something you will have to do because of rising insurance/tax costs.5.)