Looking for advice as this is my first purchase.THIS WOULD BE AN OWNER OCCUPIED HOUSE HACK SO IN MY OPINION THE PRICE ISNT A HUGE FACTOR.

So my question is what factors significantly drive up rental prices?

A project that has a 1 year turn around has a different risk factor than a project on a 5 year or 10 year plan because you must endure a whole cycle which is typically 10 years peak to trough.So if you deal with a  mess which this sounds like then the upside has to be HUGE for your time.

Say 15% discount at purchase, followed by a further 5%+ appreciation during the year, not even including any value-adding that could have been made to its design)].Thank you for your service.

Currently my focus is on design and manufacturing retail and event displays. 

@George P. does that mean you have no problem filling your rentals and so you don't factor that in to your rent? 

The numbers may be great but you need to understand the headache factor involved for you if self manage or how much it would cost you for a property manager to handle.  

Are any portions of the parcel designated as wetlands or floodplain?

Mentioned a great point, the tax consequence of a sale will bring property tax up to date based off the sale and the last time it was accessed was when the park was built in 1938 so I’ll be facing a huge unknown there as well so all in all I think the “F” factor is way to high with no upside that I can see.

I have no skills currently in the home renovation department, interior design, etc.