I am not quite ready to pull the trigger just yet....still wrapping up some other business at the moment, but as soon as I am ready to go I will reach out.Good Luck!

I don't currently own any properties yet, but I feel like this is a good but cut-and-dry plan.

They had redone the roads, keep the grounds maintained, clean bathrooms, a big meeting room/building for parties, a fishing dock (although it was on dry land at the time due to drought),  even rental spots for RVs were nicer so they pulled an upper end crowd.From what I've seen in my immediate area (and I've researched it), if you have cabins at a trailer park rent pretty decently.  

I'm currently doing direct mail, bandit signs, and driving for $$$, I've negotiated deals with a number of different sellers but haven't found anything worth pulling the trigger on yet.  

I can do some deal splits with you and talk to you on the phone for 30 minutes without charge, remember you are in the selling season right now between now and September most people sell their houses, it's up to you to pull trigger and get going

I would be more interested in passive income but have had trouble pulling the trigger on any initial deals.

You weren't hesitate to pull the trigger and that's what you need to get the deal done.  

The only way it would be triggered if the owner offered to sell to a party and someone had the prior right of first refusal thru a earlier contract The tenant does not automatically get a right of first refusal unless it was in the lease or other contract . 

To generalize, positive cash flow for safety, then consider ALL of your sources of profit (value add, mean reversion to historic price & rent trends (which could help or hurt you),cash flow from rent, etc.) and timeline to determine if the TOTAL investment returns over the complete life of the investment and if that total profit looks attractive compared to the risk then pull the trigger ... much like how a multi-family investor will project cashflows throughout the lifetime of an investment and compute IRR.

You will be able to cover your utility cost but you'll add a lot convenience to your housing offering.So, it's difficult to make a cut and dry decision just looking at the venture separate from the total housing service you're creating.Depending on the space, you could do some interesting thing to off set the remodel.Wild idea: consider creating a small office next to the laundry room (if there's enough space) then you could rent the office space to one of your residents.You could also create a small yoga/P90X workout area.