Managing a rehab can be a challenge the first time or two and this one has a heck of a budget on it...If you are doing this on your own with no one with any experience helping you, you may want to consider something a bit smaller until you get your feet wet. 

I found a mobile home park in the location that I was looking for multifamily property, at the price that is within my budget, 5 leased units plus one vacant lot.

You could easily start with 2 homes on that budget to keep it moving steadily!

Your post got cut off, but it appears that in this case the Board and/or management company should be able to fairly easily create a spreadsheet which would allocate the total budgeted Assessments needed amount the 24 units based on the criteria set in the Governing Docs.If you haven't done so already, let me know and I can help set that up for you (I've been an accountant for an HOA management firm for almost 10 years).

HOA do not do any interior fixes so still need to budget for capex.

Some I've seen are land turned into truck yards for all the smaller contractors building everything.

., looks like a dump truck full of BS.  6% is their max interest rate???

Where are you located, what is your budget, desired level of rehab, etc.? 

With countless delays and completely blowing out our build budget, all while watching the world shut down during the pandemic, I had more than my fair share of doubts along the way, but thankfully the housing market has boomed, which helped our valuations and rent rates in the end.

@Bradley Kovach I guess it depends on your budget.