Again, if you don't follow some simple rules on how to manage each LLC you may pierce the veil and lost the insulation between entities that you wanted, so it's not bullet proof but could be pretty solid if you do it properly.

Simple chicken soup recipes here.

Quote from @Clay Watson: I'd suggest checking with a few more lenders to see if they have the same restrictions or if you can find a better deal. 

I would suggest having someone local come look in person as pictures can be tough to judge. 

Or are you suggesting another step after I secure the place?

My biggest suggestion is when you find your right location, don't be afraid to pull the trigger.It sounds like you have some capital for a down payment so that is positive.

Get something simple, but durable and don't get anything that requires a water connection.

My biggest suggestion would be to get seller financing and if they won't do it then only buy if its a screaming deal.

I would highly suggest buying an existing community, it is almost always easier and more profitable unless you know what you're doing.

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