Not only will lenders be effected, but borrower credit, business loans, inventory, and auto credit will suffer when those effected have to relocate, find long term replacement housing and their livelihoods and income are destroyed.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

It is debt you are obligating yourself to and lenders and the federal government think of it that way.Missing a payment doesn't mess up your credit, but it does mess up your day when you get sued or prosecuted. 

You definitely want to use a thorough screening method like rentprep.com that gets their income, credit, background check, and call at least 3 references (make sure to verify them by address/job and then their name).  

Another work around that isn’t discussed much is working on a strategy with your insurance company to protect your other assets in the event of a claim.But also, it wouldn’t be a bad idea to consider getting the financing into your LLc name with a community bank and pulling cash out if you have substantial equity.Right now, since the loan is in your name, it shows up on your personal credit report.  

If Don fails to pay, the bank will certainly go after me, it will at least ruin my credit and will likely take me to court.

@Randall AlanRandy,I have roughly 1+m of funds, that includes open lines of credit.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

However, after renovations, the numbers improve significantly, and the challenge lies in bridging the gap between current and future performance.Expenses typically run at a 30-50% expense ratio for mobile home parks, depending on management and infrastructure conditions.

Have you contacted the Zoning Department to review the survey and ask what your subdivide options are with the existing improvements?