Also, depending on your area, you may have to add more outlets to make it suitable for a bedroom and most garages are sloped slap on grade and are not sealed verywell to the elements.

If there are qualifications that it doesn't currently meet (i.e. minimum ceiling height or room dimensions, total minimum square footage, presence of heating and cooling elements, # of methods if ingress/egress, size of the window, etc.), then you'd have a problem on your hands if you purchased the property as a 3BR.

It reacts to outside elements like a science experiment, it grows and atrophies like the used and unused muscles in our body…and then on the other side it barely even exists.

This takes decision-making and implements the element of delayed gratification.

I want to better educate myself on Mobile Home Parks and the finer elements of due diligence, purchase, value add, and overall management.

I hadn't taken into account the DTI element of it- Thank you for bringing that up. 

Unfortunately, I strongly believe you are missing the key element here regarding my post.

Vacant with 100% equity and on a targeted list designed for non-profits... the most important element -- motivation -- is missing from this equation.

There may be a meter for common elements which of course you keep in your name as well.

You have to consider real estate as part of your portfolio, it will add an element of diversification to the stocks and bonds while at the same time has unique taxation situation that you could take advantage of.