My issue here is the equity and unforeseen issues that may arise.

So if they had a 25% cap and were at 25%, then you are out of luck.With that aside, you also have to check with building department as sometimes they may not allow permits to be issued for some of these conversions as they do not meet code. 

.: I would highly suggest buying an existing community, it is almost always easier and more profitable unless you know what you're doing. logan the issue on the West coast is parks are treated like investment grade props and sell at a very low cap rate even in this interest rate environment. 

The flat roof may prove to be an issue but citizens will have to offer coverage.

We haven't even covered if there is an issue in the other direction whereas, if there is property damage i.e. electrical fire becuase of the way the issue was approached, is the Tenant responsible?

…these are the types of safety issues you’ll need to consider when house hacking…Moderately important: Storage.

We have another property with CMHA and havent had any of these issues.

Issues with tenants also I am still debating if I am going to keep it or not in the future.  

@Pramod MahadevanI'm in Lake Tahoe Nevada and this has become an issue with many larger and smaller condo complexes because of the multiple insurance claims from snow damage last year the insurance companies were dropping policies or charging crazy prices. 

If not, could risk constructive receipt issues.