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.

I both sell and purchase properties via the lease option method and one of my protections as the lease option buyer is knowing that the seller / owner cannot sell or refinance the house out from under me as long as I have that recorded option against the property effectively creating a lien. 

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

Most rental properties pencil out to very close to debt neutral as far a loan is concerned.

My biggest concern about landlording is finding tenants and keeping it rented.

Ultimately, our goal is to utilize the BRRRR  method but that would be years down the road when we can bring more cash to the table.