My impression is that the most "typical" range is from 40/60 to 60/40 and this would fall towards the higher end (and may well be justified as the sponsor has a solid history of successful projects).

Basements are typically treated this way, but not second stories. 

Typically do you buy fixer uppers, or houses that are done and ready to rent?

Tenants are typically responsible for all utilities (water/sewer/garbage/power/gas) for single family homes. 

Having said that, a couple questions:*If* a tree were to fall onto somebody's home, would my park owner insurance typically cover damages to a tenant-owned home?

I typically estimate 5% of rent amount.

Actually, upstairs looks very presentable - typical 80's style, but nothing like THAT - normal walls, floors, windows etc.

I typically look for 3 bed/2 bath - 5 bed/3 bath.

Business owner user will typically pay much more than an investor.

Dealing with D class tenants in SB is no joke and something a person has to be truly prepared to take on for pennies.Lets say we rent a D class house for $500/mo off Olive Rd. and charge a typical 10% management fee.