Please let me know where my holes are and if there is anything that should be tweaked.

Am I going to be answering calls 24/7 and fixing holes in the roof all the time?

Each partnership arrangement varies a bit but basically it starts out with a letter if intent that spells out each persons duties and monetary contributions which than converts to ownership percentages.The underlying point is what I call the "privates code" An example is - lets say we want to split a pie.

it will still be a challenging learning experience, but you can generally sell it when you're ready, you should have fewer tenant issues (non-payment, holes kicked in walls, etc)... and it will position you well to move on into the larger park environment when you're ready.  

There may be a loop hole as to what qualifies as an investment purpose though - perhaps this is satisfied as you stated by running your business out of one of the units.

They had put holes in the wall. 

Or they can try to ride it out but it looks like they are better than $500/mo in the hole.

North Miami or North Beach (Miami Beach Island), come to mind that have permits to do short term in determined zoning and other neighboring areas as well, point is... has so many loop holes in the laws, that one way or another the option for short term can be possible and within regulations.The most important points is there is always a niche of clients that you can work with and target in the real estate market and now the need for move-in ready homes for relocated professionals, graduate students and other reliable tenants are needing a place and have been unrecognized, or not paid attention because it is not the most to “lucrative way“, and that in my opinion is a myth.

Dude is the Ace in the hole.

@josh Wallace welcome to the encyclopedia black hole of never ending REI knowledge!