If you are accredited, the best thing to do would be to invest 50k into a syndication and soak up all the knowledge of how it works from an experienced operator before you make the decision whether it's your plan.

So your 35% operating expenses makes sense and seem plenty conservative to me.  

Assuming a 40% expense ratio, the net operating income at the current income level would be around $19,440 annually and $28,800 after renovations.At a $360,000 asking price, the cap rate based on current NOI would be 5.4%, which is low for a park with park-owned homes and required renovations.

Do you have a 501c3 that you operate under (and rent the house from yourself), or do you purchase homes with an LLC or personal name, and run as a regular business? 

These are professionals with additional training and a stricter code of ethics.

As for one of my other operators, I am invested into REM in 3 different deals.

It is clear from the interview that their main skill set is raising money and they partner with other "Co-GPs" who focus on the operations. 

It may surprise you, but we have always operated under the premise that renewals make us more money than new leases.

These are professionals with additional training and a stricter code of ethics.

Do you have a track record of purchasing and operating real estate on your own?