It does not have a title and is classified as real property.

The income for the LLC will be taxes, furthermore when you declare the dividend, that amount will be classified as personal income and will be taxed based off your marginal tax bracket.If you hold the property under your personal name, then you should not have to worry about a salary or paying yourself.

@Kunal Mishra,In some locations, the government takes a too-broad view of certain activities and classifies them under categories where they don't belong.Classic example is states which consider wholesaling - selling a position in a P&S contract - to be the same as selling the subject property and, therefore, considers the wholesaler to be acting as an unlicensed agent or broker (they're not, but I digress).Folks who have organized as LLCs and/or S-Corps sometimes use the SIC code associated with "Other Real Estate Related" business activities, rather than "pigeon hole" themselves into a restrictive niche.My $0.02 ...

Lenders and insurers couldn't figure out how to classify it and most just walked away. 

Environmental is a non issue and would actually be benefitial since Florida has big tax incentives for redevelopment of brownfield and would  likely be something we would be pushing to have the land classified as since it also eliminates alot of the legal issues of redevelopment as well. 

Now, on the other side of the classifieds is a phone number to the owner/manager of the park that says "2&3 bdrm's for sale (xxx) xxx-xxxx".

Even though large multi-family properties are often called "commercial," the IRS classifies them as "residential" as that's their main purpose.

So I would classify it as a D.

The population tends to be long term (fewer turnovers) We would classify these as class C neighbourhoods:  very good rental income for the price of the asset(s), but do not anticipate any appreciation.The lost/perimeter neighbourhood - I cannot think of an appropriate label for this type of neighbourhood (basically it is neither blue collar nor a war zone).  

You also need to check the local tax assessor or PVA to see how they have it classified.