They will perform their normal roles. 

Sounds like you want to bring them in as a partner instead of simply an "investor / lender".You need to think through the transaction and know who is going to play what role during the full investment duration.

I am trying to determine what equity I should receive for my role in the deal?

But it still works out that it needs to be maintained.But this is mostly just an exercise. 

The amount that you are allowed to increase each year is based off of the registered rent role.

My role will be to find the houses, oversee renovations (fix as much as I can on my own before having to hire out), and get it ready for us to make deals with local management companies.  

That being said if you do decide to go the partnership route you want to make sure to clearly define everyones role, responsibilities, capital contributions, loan guarantor roles, decision making authority and exit from the partnership if someone wants out.

They just don't have the ability to move the needle at the park, nor will they care as much as you do as the owner, so you will be left disappointed with their lack of performance.If your focus is to acquire multiple parks that require a lot of work, I would suggest YOU become the expert and take the role of offsite manager, overseeing the onsite manager.

We are under contract for a house in Rancho Mirage. It’s an older Spanish style house with a huge yard. The foundation and space is great but the house and yard need upgrading to maximize rental income. My estimati...

Let's call this a thought exercise for you, but real for me.I'll try to be succinct and I completely understand that this is very much up to me.