You value the park using whatever method (Capr rate, DCF, IRR ect) you want and look up the appraised value of the MHs.Figuring out intrinsic value is difficult enough without muddying your MHP valuation with rental income and expenses. 

Investing can be very stressful so why have the other stress involved.

:@Mike M.What do you use to get all of the details of the transaction down before the lawyer gets involved to draft up the final documents?

@Paul Boyett I second what @John Warren said, you can use these equity in a variety of ways, depending on your interest and interest to be involved as a landlord.

Another option they have is to hire someone to get them out using borderline legal methods (this type of business is booming there now). 

@Tanya Rooney  Some Hard Money Lenders require you to put at least 25% down and the ones that do 100% will have a lot of fees involved and points.

That being said, I am also being warned to stay completely away from being involved in the transaction because any association with my own personal real estate (bought outside of conventional mortgages) is in violation of FINRA's rules.Has anyone run into this before or know anyone who has their licenses and still invests in real estate without using conventional mortgages?

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

It seems this may be a difficult expense to estimate given that it is not entirely clear what will be included in a property's "repair and maintenance costs", but maybe some of you have a rule of thumb or method to help you estimate these expenses? 

If you're interested in learning more about finding your niche as a real estate investor and options for marketing methods, I wrote a whole book on the subject.