and was thinking of just sending that over to them but then I got concerned that it would be too detailed.Any help from the experts is greatly appreciated!

The only thing I was concerned in was that I wanted to find a house that was close to mine that didn't need a ton of work and that it would make at least 15% return on investment.

Then make any repairs such as anything that would cause leaks and progress into water damage.

I also fully understand that your broker and their ops manager do not see any problem with refi of a property where a purchase option is in place - and this may proceed without an issue, of which I certainly hope that it works out for you.Just be aware, I've encountered this exact situation where everyone said it was fine and even the underwriter expressed no concern when asked about it in advance - but just prior to closing it suddenly became an issue when they pulled title and saw the cloud.

@abrahamanderson Don't listen to others that say "stay in your lane" and out of playgrounds.This IS your lane, it's an amenity for your residents and as far a liability is concerned, reach out to your insurance provider to ensure you are properly insured and you should be fine. 

They are all rented and it looks like there could be a decent cashflow from this acquisition however my concern is that when I would try to refinance out to get my cash back, that the appraisal could be lower based on the mobile homes, has anyone faced anything like this before....I know this sounds a bit crazy so any info would be most greatly appreciated and if there is any additional info you need from please let me know thanks

But I want to list my concerns first and then some things I like about a deal like this (if done with the correct strategy going into it).

I would be concerned about the stress it will put on you and your relationship.

I note that you asked specifically about “cash-flows”, which has multiple components each treated differently for tax purposes.In general, you can start with NOI, next you have debt service and cap ex, which can get you to cash-flows.The interest portion of your debt service is tax deductible (possible subject to limitations) and the principal portion is not because you get basis in the asset for the loan principal, which generates a depreciation deduction.Similarly, cap ex is generally not deductible currently but the expenditure is capitalized and depreciated, similar to the initial basis in the asset.In summary, you have cash and non-cash tax items that cause your taxable income to differ from your cash-flows and taxable income * tax rate determines your tax liability.

I am a little concerned because the trailer parks are now not conforming.