This will be my first time undertaking a project that requires substantial work (all new windows, kitchens, baths, re-configuring walls, electric, plumbing, roof, exterior), so lacking experience with such a project I would welcome any helpful feedback.  

But if a seller has clean and complete books showing a certain NOI, wouldn’t it be more accurate to value the park based on those real numbers than assumptions in the formula? 

Both bathrooms had most finish work completed and were livable, just needed paint and cleaning.

I have everything on 1 page but in different sections (plumbing, electrical, tile, etc).

Since it notes new roof - electrical - cabinets etc you may have lower maintenance and capex costs but then you are risking it being cash positive.

As for the repair cost I always keep a home warrant on each property which covers the fans, dishwasher, garbage disposals and every other appliance in the property as well as other repairs (plumbing, some electrical, etc).

I would pay roughly $390/mo. for water and $279 for gas. tenant pays electric and I would pay $80/mo. for trash as well.

Usually you're talking $20-50k  for a renovation of a place that has decent plumbing and electrical already.

During the day, I am the lead Power & Controls Electrical Engineer at a Fortune 500 coffee manufacturing plant.  

So a tenant only pays electric, and their hot water and heat is included in the rent.