I doubt that some of the rent increases noted in this thread would be sustainable in my area, but it does make me realize that as a buy and hold investor I should also be considering the future calculations as well, such as IRR. 

Its based on what the future value will become with the rehab installed.

They work because the property is pre-appraised to its future , finished value by showing an Appraiser the contractors proposal with all costs and updates to be done.

I don't have any tenants in my rentals with pets, but I will be adding that a clause into leases in the future should I decide to rent to animal owners

My goal is to obtain 2 more cash flowing properties in the near future.

I plan to buy a house, hire a contractor to make it livable, then live there for the foreseeable future.

The park should make money but we just have different opinions on whether or not it's a solid investment for our team and the future.

Get a house inspection to determine what capex might be in the future. 

But make sure you are also setting some money aside for the future big items like roof, HVAC, water heater, siding, plumbing, etc...

All the negatives you mentioned are a big red flag for me plus I personally see that at $350 a month, its hard to make enough reserves for future capex (per unit).