I have a few of them on my shelf.

With an RV Park you just ask the troublesome folks to leave so there is a benefit to that but then you can have greater turnover and a less stable rent roll.

Because I will only have little down payment of <$10k by May 2016, (but I have a stable well-paying income and 740+ credit). 

But as your situation shows, taking on existing tenants is another level of screening that should be undetaken, so you know who you are inheriting and can formulate  a plan to get them out as soon as possible.One thing I've come across about 3 times is the prospective tenant who has a stable job, good income, vountarily sends you additioal information including pay stubs, has the money for the deposit available immediately and always hsa to move "right away"....really needs to be in the house by "this weekend".  

Let him buy the unit - he is going to get a better deal than you, and will be the one that has to deal with problems off the shelf if he gets something bad from the manufacturer.

Thats your stable NOI.Calculate the value based on thar NOI and going cap rate.Subtract rehab costs from the value.Subtract your "value add" expectations.

@Ndy Onyido I have been in KC my entire life and while there isn't huge growth or expansion like in the sunbelt cities, it is pretty stable and has affordability going for it.  

You don't have the time, money or experience to just go out and pick a GC off a shelf, simply going on ratings. 

Ravi is correct for a stable good credit file +-10/20 points.

Regarding Japan I heard the real estate has gone down the hill(though it's still expensive IMO LOL).. it makes sense to invest a place where the housing market is more stable.