This is largely due to the fixed nature of ongoing maintenance costs, which become proportionally more impactful as the park size decreases, thereby inflating the expense ratio.

----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Value adds are always a great opportunity to generating additional more money.If you have extra space on your property, consider applying for an ADU. 

I agree that rates have naturally adjusted with the rise in the Fed rate, and it seems like the 10-14% range may become the new normal for a while.I’m curious—what’s your outlook on how this rate range will impact new investors entering the market?

The ADU would then be used as a long-term rental.Does this qualify as a “like-for-like” property exchange even though I’m technically not buying another property and does a 1031 apply?

Syndicators do this because most passive investors are not sophisticated enough to realize the "security" of the preferred return means they usually are giving up the potential for massive returns if the deal does well.This next comment would apply for all syndication.  

I asked our manager about reducing the rent but he said we are asking a fair amount and we are getting lots of interest but a lot of cancellations, no shows, or people who don’t follow through with applying or don’t meet minimum credit score.

This convenience and leverage can justify the higher cost of these loans.Personally, I prefer using a HELOC because I only have to apply once and can then tackle one or two projects at a time.

But a fee must still be applied.

Once they exercise seller financing, the property is sold and all 1031 rules apply. 1031 has specific timelines.