Here's a link to IRS Pub 535 >https://www.irs.gov/publications/p535Although no one is thrilled about paying taxes, the IRS website has plenty of solid information to read, so that a business owner or investor can stay in compliance with the tax laws and make them work advantageously.

I will get the park in compliance and rented, then we together will resell the park for about 1.8, which is still a conservative resale considering the rent is 450 per lot and has a great cap rate.

As a private lender, my only limitations are legal and regulatory compliance which gives me far greater freedom to make the best business decisions for my assets and help out the borrower when I could.

Broadly speaking, according to federal law, you must allow at least two people per bedroom.So with that in mind, it does sound like your tenant is in compliance with this - one child shares a bedroom with her, and the other two get their own bedroom.I would bring this to the attention of your HOA.  

You should talk to a real estate attorney or title company that works with investors in your area to ensure you are in compliance with any laws.

Regardless of the rate - you would still be required to calculate interest in the holding costs.There will also be some compliance costs associated with either route.You may need to have some legal documents drafted(loan agreement or a partnership agreement).

If you have never rented out before, you will want to familiarize yourself extensively with the landlord/ tenant laws so that all your paperwork is in compliance and screen very well.

Offshore is however a great tool to access foreign investment that are not directly accessible to "US person" due to compliance issue.

Our firm went all in with a lawyer to integrate our client strategies and it has made 1) Our clients' lives easier 2) Legal compliance easier 3) Tax strategy bulletproof and consistent.

Renton will be a lot easier to stay in compliance in as a landlord vs.