My concern would then be - if I did move in the new(er) trailers to the park, how enthusiastic might that make the local codes enforcement folks, per Jim Johnson's example above.

You can brag how your Sub2 are all great grand and groovy but fact is your 1 event away from a forced liquidation event. 1 court ruling on Sub2, 1 event where lenders do look-backs and enforcement, your goose is cooked.

Quote from @Linda Roberts: If you have something in your lease agreement, you should understand it and enforce it.

One of the most experienced fix-and-flip lenders in DFW approved and funded the transaction and is also exposed and anticipating losses.At a hearing with the city Femi makes the following claims:Shows a general contractor bid for $20,000 to fully restore the property.States the foundation is good.The big issues appear to be from code enforcement’s discovery of a full rehab taking place, including electrical work, all without permits.

They have enforcement powers that I just don't have.

Coast Guard, specializing in Federal Law Enforcement and Emergency Response.

Their agreement to pay 50-50 is between them, if you do this they are trying to have you enforce it.

They plan to continue what’s been ruled illegal through clever workarounds and ticking boxes on forms differently.I’m just frankly shocked at what’s coming out of their mouths - almost as if the law is this silly little thing that the courts enforce because they can’t see the light properly as an agent does.I say all of this as a licensed agent.

Paul Post So the practical side of me says that you should agree on qualifications with you PM and then let them enforce those qualifications.

Remove the draconian anti-landlord legislation and I think you could see a return of many landlords and SFR's in particular.  11000 landlords quit Seattle in 2022, this is the number that has not renewed their rental registration.