Presumably you want to continue selling homes within the same park so you should put a large focus into creating an arrangement that not only works for you but also benefits the park owners so they'll be excited the next time you want to place a home in their park.

Something sounds fishy with the PM arrangement.

The way the arrangement works is:  1)  The business owner researches properties at auction and selects properties which can be turned for a profit.  2)  There are a pool of investors who have money available for purchasing the properties from auction and cover the renovation costs.  3)  My friend (from church), reviews the property and gives an estimate for the renovation and one of his crews completes the renovation on the property.  4)  The business owner then sells the property and returns 10% return on the investors funds used. 

That is assuming your doing a true deed/mortgage arrangement . 

Are there any verbal agreements or arrangements between the current Landlord and Tenant?

My attorney friend asked me if I have ever bought a junior lien to which my response was no, but I would definitely be interested.My goal would be to buy both the junior and primary liens and re-arrange the financing so that it was all consolidated into one payment at a lower interest rate to me, in which then I would sell the note to a lender or help her refi out of the loan payment to myself into a loan payment to another lender.My questions for anyone (preferably if there is an attorney out there with experience in this space) are:1.

For example:Investor: 7% preferred return year 1 (including forced equity and operating income), and following years (including operating income and net sales proceeds) + 50% of returns above 7%Local: 50% of returns above 7% (including forced equity, operating income, net sales proceeds)I haven't sketched this out in Excel, but would seem reasonable to me.In the end, both sides need to see the arrangement as a win/win and a good use of their resources (time, $).

Tell us about your bills and living arrangements.

I then speak to the head of the board and he says they will give me a trial lease for 3 months to make sure my arrangement didn't interfere with the integrity of the community.

This was of course a temporary arrangement with my realtor just so we could get the HOA set up and close the sale of the property.