If you’re making a return higher than a bank CD you can support a mortgage.

The date you are able to take depreciation is when the property is ready for renting (i.e. advertising for rent or obtaining a certificate of occupancy).

If these folks owned their own home prior, I would probably take that as them having better credit at that time even without a credit report to support it. 

My mark up is always lower than the direct lender because I don't spend money advertising during the Super Bowl or buying a private jet for my CEO, and we don't have layers of management we need to pay.

You will also need different levels of staffing to support the various strategies as you are already realizing. 

Thanks again for your insight and support, and Happy New Year to you as well! 

This is similar to what Clayton Morris has been accused of recently: https://www.nytimes.com/2019/09/10/business/clayton-morris-indianapolis-fox-news.htmlI believe the FTC should be involved due to the advertising side of this alledged fraud.

That being said, if I were the tenant, I'd say they were emotional support and then NOTHING can be done.

Great resource for advertising your property, but not so great for screening. 

This would further support the recommendation to negotiate a step-down mortgage structure, such as tiered payments or interest rates, to reconcile the seller's valuation expectations with the practical realities of the park’s financial performance and provide a feasible acquisition pathway.