They just don't have the ability to move the needle at the park, nor will they care as much as you do as the owner, so you will be left disappointed with their lack of performance.With all that said, if your focus is to acquire value-add parks that require a lot of work, I would suggest YOU become the expert and take the role of offsite manager, overseeing the onsite manager.

Self-directed IRAIf you are self-employed with no w-2 employees, you can set up a Solo 401k & rollover funds from a non-Roth IRA as a tax-free direct rollover and then invest in real estate.A Solo 401k has several advantages as compared to a Self-Directed IRA including the following which specifically apply to your situation:Unlike a Self-directed IRA, you can have the account for the Solo 401k at a bank or brokerage that does not charge maintenance fees and where you will have checkbook control.Unlike a Self-directed IRA, if you use leverage (which must be non-recourse financing in either case) to acquire real estate with your Solo 401k the income will not be subject to Unrelated Debt Finance Income taxGeneral Considerations Re Investing Retirement Funds in Real Estate:1.

The only way I see where maybe they're coming from is the buyer thinking that they'll acquire a HELOC or HML if they win the bid and maybe can't get it.

Calling the police and acquiring a police report is a good idea, at worst it’s further documentation.  

My initial thought was the definition of roles such as one person taking the role of property management (in the case of rental property ) and the other probably taking care of maintenance, but I get stuck with how the deal is acquired.

Like many folks, I've acquired various policies over the years, ranging from multiple life, LTD, home, auto, umbrella, and others. 

So, I’ve acquired 4 rentals over the last 2 years.

So, I’ve acquired 4 rentals over the last 2 years.

Please see the following regarding Solo 401k vs Self-directed IRA, Considerations re Investing in Real Estate & Consideratiosn re Choosing a Solo 401k provider:Solo 401k vs Self-directed IRA:A Solo 401k has several advantages as compared to a Self-Directed IRA including the following which specifically apply to your situation:Unlike a Self-directed IRA, you can have the account for the Solo 401k at a bank or brokerage that does not charge maintenance fees and where you will have checkbook control.Unlike a Self-directed IRA, if you use leverage (which must be non-recourse financing in either case) to acquire real estate with your Solo 401k the income will not be subject to Unrelated Debt Finance Income taxGeneral Considerations Re Investing Retirement Funds in Real Estate:1.

Another important thing to remember is that you should always have some reserves on hand, so you don't want to stretch yourself to the limit to acquire the property and not have much left - another reason for partnering.I hope it works out - seems like it could make a good deal!