Then if the LL agrees to the LOI terms you’d draft the official lease agreement that includes all of those terms for due diligence, feasibility, permitting, construction, rent commencement date, etc. 

I may not have a license to do appraisals and have never done one officially, but that does not mean I do not know what it takes to produce one or that I dont know about the guidelines and regulations placed on appraisers.

Although I do have a friend who went through the whole process with his dog and there is actual official documentation he carries around.

To most government officials they will only see the park as an RV park and therefore it should be developed under the same guidelines.  

The rehab took a lot longer than what I wanted, and there were a few things that we hadn't accounted for, but we officially finished in February this year. 

I did some extensive work within Sec 8 and the HUD Lease Option program, at the national level, attended in connection with NAHRO, the National Association of Housing and Redevelopment Officials.

Now officially my first rental property.What made you interested in investing in this type of deal?

Therefore, I think you'd agree with me that it'd be silly to discard deals in which developers would do the right thing towards their buyers by offering larger discounts.On another note related to your reply, you've mentioned a few times that you have an "internal MLS" I guess to make up for the lack of an official MLS.

I have not had an official appraisal but two of my neighbors sold their homes recently for 260k and our houses are identical in layout and square footage.

3- To record incomes and expenses correctly for tax issues, do we need to make an official contract for the renovation (between the LLC and one of the owners), or is simply issuing invoices and receiving payments in the LLC’s bank account enough?