The rehab cost could be 5k or 100k, you don't know without a proper inspection and plan.

Your intentions were proper, nobody's  going to foreclose, or put a blacks mark next to your name in the record book.

While owning a properly run manufactured housing land lease community can be and normally is a cash cow when compared to other forms of commercial real estate, properly running it requires knowledge, hard work, and some intelligence. 

(I do have a really good credit score and history, at least 750) Will each 4-unit building generate $1,000 at least of cash flow given that we give it proper management/maintenance?

Just need to find out what paperwork is needed to proceed properly.  

There are a lot of things to consider, but if the building has been properly maintained over the years or professionally restored then there shouldn't be anything to be concerned about.  

I hope Jason gives the proper notice on his recorded phone calls, wiretapping can be a serious issue. :)

Mods, please feel free to delete this post as I am re-posting it in the proper section.  

Just make sure to properly clean and seal it (the existing floor) so that the adhesive will properly stick to both floor and vinyl planks.  

That can be an overlooked cost if they are not metered properly.