@Neil Patel Something seems off kilter given you have a vacancy issue in the Phoenix market.

For example we bought a house once that was noted we could not increase size of septic because it was within 1000’ of public water system and essentially that was my bad as not looking into further future development - but that was not a title company issue - as title was clear and that was not a deed restriction nor an easement

Assume that houses built in that period may have some lead paint.It really isn't an issue unless you are doing something unreasonable - like sanding the paint and snorting the dust.

The town the mobile home community is in has a LARGE percent of tenants vs. home owners (60/40), so I'm wondering if I'm trying to force the issue by selling on contract when the tenants really just want the freedom to rent?

Now if you have the cash to pay off the underlying loan at anytime if there is an issue then your risk goes down to is your buyer going to pay and if not are they going to trash it.. same issues you have with any tenant.

You'll be able to jump on issues quick.

The only issue I have with this theory is that the returns %.

Issues with the property at closing: low water pressure, aging roof, several lights not working, dated interior, water stain under HVAC unit, damaged decking (burn hole & rotting boards), old appliances, holes in drywallAnticipated cost to renovate:  $22500 (includes roof, repiping from old galvanized pipes, renovation of currently empty unit)  The currently occupied unit is TBD on cost, the tenant has been in place for the past 3 years.   

If you are carrying a high note and this is indeed your only investment I do not think there is an issue keeping this in your name. 

He already has his in another property so the seller would have to forgo his entitlement to make is assumable.The real issue with assumable loans right now is the down payment.