Owner can't provided any rent collection- mom and pop owner who says he is collecting cash.The park need the roads to be fixed up, trailers to be rehabbed, outside power wash all trailers, paint outsides of trailers, landscape and clean up and a new trailer brough in. 

It also has a car wash and other commercial properties.

The only issue I have is that dependimg on the deal, it usually ties up the capital  for a minimum of 6  months and I wouldnt have it available if a good deal comes along...then I'd be looking for a PML for the same interest I'm making, so it's a wash.

Airbnb/STR pros:Your property will always be in top shapeMore money (Most important right)You get to meet some pretty cool people (I've met more RE contacts from doing it)Airbnb/STR Cons:Turnovers (work for you unless you hire out)-Cleaning-Washing linens-Restocking suppliesMessaging back and forth with guests (work for you unless you hire out)Those are just a few off the top of my head. 

But I am still there 1-2 days a week as he majority of my business (window cleaning and power washing: commercial, residential and high rise) is there.

Boy was he right.

Many banks will consider the rental property a wash if you can show them a signed rental lease to prove that you will have income on it--even if those renters have not yet moved in.

Only problem was he bailed on me one time because he was stuck at another job.

The result is car washes and laundromats have compressed cap rates to levels where it is difficult to compete. 

Plus they found leaks on hose attachments the dealer tried to wash away.