From what I can tell the biggest issue is estimating the rehab cost. if you can get that right, most other things should fall into place.

The biggest gotcha are the holding costs while you are trying to sell the home (lot rent) and then, of course, there may be an issue with getting the person approved with the community.

The biggest reason is I am still learning the market and don't want to get stuck with a $600+ lot rent.

A $425 dumpster is typically 30 yard dumpster, biggest they come and it should take 3-4 guys 4-6 hours(24 labor hours + vendor profit) to knock that out assuming the dumpster location isnt tough to get to. 

Vacancy is often a landlord's biggest expense.

My dad did this for 20 plus years in CA.. his biggest year was 800 lots sold...

They have to be paid up front at the time of closing. the rule for delayed finance is 100% of HUD, so any costs left out at the time of purchase will not be able to recouped with DF. secondly, and this is the BIGGEST issue I see people run into with lending, is that you didn't line up a lender BEFORE you purchased.

The biggest benefit to inheriting tenants is that the property is generating income from day 1 right after you close on itIf you're looking at a commercial/DSCR loan, the 1007 by the appraiser helps in maximizing the leverage and therefore, financing on the property P.S The only place where I can see it help is if you get a portfolio loan from a local bank.

The comparable value here is the biggest piece of the puzzle.  

I thought I would come back and provide an update....Biggest change, went from a fix and flip exit strategy to a Rehab, Refinance, Rent exit strategy.