The latter will allow you to hit the ground running once you decide to actively pursue properties which could be a major determining factor in landing a deal in an area you desire.

I agree with the other points but the purchase needs to serve your needs in order to determine if it’s a good price for you.

Do not let statistics of others determine your success in anything. 

Do a rent survey of other parks in the area to make that determination. 

Generally, you're looking for certain market indicators to determine if a market is a "good" market for you.

Other insurers like OSC do not allow for this, and REQUIRE that you buy the coverage which THEY determine is correct and its usually much higher than the BPO value of the home.

If you are looking to buy a turn-key MHP, I would recommend researching and determining the area of the country you would like to invest in and then locating a MHP Broker in that area that can assist you in locating a park that will fit your criteria. 

My strategy would be to let it cash flow initially for the next couple of years, and then if the area keeps developing, determine if its worth making substantial improvements to raise the rents significantly.There are definitely some risks with this property: many tenants are on short term leases; and there is the risk that the immediate surrounding area does not continue developing as it has over the past couple of years. 

I analyzed the property and when I determined their payoff and my comfort with exposure, I anchored them with a purchase price below their mortgage payoff if I was to do the flip myself knowing they would say no, but I had built rapport with them and new I was still safe.

They use the 4% rule (25 x annual spending), to determine when they can retire early and live off investment income.