I am not attempting to imply anything about the question you asked or how you worded it, but just for funsies I went to google and typed in "Define fraud." 

The Cons - MHPs can take longer to stabilize, there can be more components to a deal, there are licensing requirements for home sales, and there just aren't as many parks that trade as other asset classes. 

Also, in case it helps people, I wrote a blog post here on BP that defines a lot of these terms: https://www.biggerpockets.com/...

Definately get a tax professional to make sure you get set up correctly with your taxes.

If we hire a company to produce a widget for us and they then hire other companies to make component widgets - we aren't liable for our contractor's deficiency with their contractors. 

Granted each state can define what meets the definition of a commercial loan, it wouldn’t meet the definition of a commercial loan in our state (California).

This is a judgement call as there may be no legally defensible framework to define a specific period.  

Dan D,DEFINE your investment goals and work your way backwards.

I don't know how you define a light/cosmetic rehab but generally, I light rehab isn't going to create equity if all it is is sprucing it up with paint and carpet.

Used other posts, stakes, number signs (reflective) to define each space.Mix.