@Dana Powell You are not obligated to follow through with the transaction until you have signed the papers at the closing table! 

8 mobile homes, 1 house.All mobile homes and house occupied.Room for one more mobile home.They own the mobile homes, rent the house.Tenants pay all utilities, including water and sewer.Tenants mow there own laenLandlord pays for plowing snow and dumpster.

Don't forget to bake in the cost of utility connections and meters (water, sewer, gas, electric) as well as permits.

I would pick a handful of this investors properties with the newest roof, hvac, water heater and then have the investor refinance 40% of the home's current value to a bank lendor. 

He would've been told this information at the closing table by his loan officers.Let's not jump to the conclusions that the mortgage company is the bad guy before we even ask via a written request to remove the PMI :)

What about HVAC systems, water heater, roof, siding, electric, windows, etc.? 

So we have a few options on the table to consider: 1).

You're leaving over $4 grand on the table annually by not adjusting to the market, 

Then what does he bring to the table if its almost the same as you then not really worth it. 

I had a client recently buy a 2 unit in Albany Park + unzoned attic and then were able to legalize the attic on zoning doc from an old water bill ended up being a huge value add likely over six figures added now being a legal 3 unit.