They were abandoned and needed significant work which wasn't a huge issue but in terms of HUD owned properties i heard there can be significant processing periods.

While I have found MTR tenants who stay a year, most start month to month and just happen to extend. 

We have extended our search to the surrounding counties outside of Pinellas at this point but would appreciate the opportunity to run numbers by you for a second look.

3) can the seller refinance or extend the terms of the contract?

Quote from @Fred Scott: Sunrise Capital Investors - Mobile Home Park Investment FundI've seen a few posts about them here but none of them actually talks about what the actual annual returns have been.They are advertising heavily for passive tax deductions which is fine but what are the actual returns over a period of (say) five or ten years?

The city required the road to be extended a few feet, along with water and sewer.

If not, ride out the 12 months with the hard money lender.People have to make good choices and not over extend themselves just for the sake of buying something they really can't afford or that doesn't make good cash flow.

During this renovation period would you, as the lender, want an Actual Cash Value or Replacement Cost policy in place?

When doing a cash out refinance, it's important to consider seasoning periods of the waiting period you have to have between when the old transaction closed on the hard money loan to the new cash out transaction closing.

I noticed the market was shifting, so didn't run to get under contract until day 43 of the identification period.