A probate court cannot cancel a recorded mortgage like a bankruptcy court can but they can permanently bar unsecured claims against the estate. 

Tampa/StPete is the area we spend a lot of time besides Cincinnati as we have family there so I am always interested in finding something permanent there.

Big thing here is to make sure the home is put on a permanent foundation for FHA financing  (if new) and resale in the future.

I saw someone put an old mobile on a permanent foundation (city lot, not MH park), and completely frame around it.

The challenge with man-camps is that every community in this area highly regulates this type of housing... with many moratoriums currently in place.The communities in this area prefer more permanent housing developments which encourage families and roots.Dion has some great comments regarding his read on this investment.

Though they only require 3.5% down, they will hit you with a very high mortgage insurance payment that remains attached to the loan permanently, regardless of your equity.

Once you feel you have a legit end buyer, you schedule to close on the property with a 2nd closing right behind it, where the end Buyer is taking title for a permanent basis.  

I have had a hard time getting permanent financing on house in the $15K-$40K range in my area.

There are books on this strategy and would recommend reading up on it...The more assets you have the bigger target you will be, so if this is your first rental an LLC may not be fully essential, but I would recommend one to get familiar with how they work and how to protect yourself using one as your wealth grows.Every property has their own reasons why they might need to be in an LLC, whether it's someone tripping and falling on your front steps because a nail wasn't hammered in completely, and are now permanently disabled for the rest of their lives - to finding out the property you bought used to be a toxic dumping site and the State notifies you that you need to spend millions to remediate it.  

I would drop the rent with the concession down to $625 but if they pay late I would make the increase to $675 permanent not just for the month they pay late.