I purchased a "mostly" cosmetic fixer upper to live in for the next 12-18 months. 

There is the theoretical/mathematical way of doing things then there is the real world.Most deals are NOT going to be valued by cap rate, at least at purchase.  

Well, what if you purchased at a booming market, then it crashes?

Why do you think purchase contracts are so long and have such small print?

However, none of them purchased it. 

I have expanded one park but purchased 9 overall and I will tell you that you can get a much much better deal buying existing and scaling it.New parks are extremely time-demanding and take a lot of capital.

Purchase price: $320,000 Cash invested: $105,000 I started with me first property investment.

I'm not an attorney so please consult one in your state to make your decisions.You could propose they master lease the property as a trial period BEFORE you agree to purchase terms which would transfer title. 

I have been told by the Sec 8 rep in my area that once a section 8 propertiy is purchased the new owner does not have to apply for section certification, thereby making it impossible for that new owner to accept section 8 funds.

30% down on the purchase providing 100% of construction .