Typically I am seeing investors put down 30-40% to break even or cash flow a bit, so that is about the same as your 80% coverage ratio. 

I would also be worried about the park rules and keeping my guests from breaking them.

What if the investment property is only breaking even and not necessarily cash flowing?

Then I wait for their responses and see their body language. 

Ask a home inspector for their mold guy if you don't have one already.If these are otherwise high maintenance tenants: offer them the opportunity to break the lease and move out with no penalty (besides damages, of course).

I’m anxious to jump in and start making deals, but these rehab costs can make or break a deal.

Break even today, cash cow in a few years type of an approach.  

So I had some unexpected time before call and needed a break from analysis so I dug a bit as-if I were considering investing into this. 

Here's what I'm accounting for currently:Mortgage (P&I)InsuranceTaxesElectricWaterTrashInternetVRBO/Airbnb feesGeneral/RepairsCleaning (though these will be passed through)If i'm super conservative on my monthly rate, I will need to rent the unit 10 nights/month to break even, if I am more realistic with the rate (according to my realtor who runs two STRs), i'll need to rent it 7-8 nights/month to do so.

if done right, you'll likely break even each month on rent, and you'll have the equity you created via the rehab.