There could be alot of expenses associated with these mandatory updates so best to find out before you purchase so you can factor those costs into your budget.

Regarding your question about mapping out the park, you may want to talk to your local manufactured housing association.

I know it’s overstated, but this really is a business based on relationships.Alternately, Scotsman Guide and the lender list at the American Association of Private Lenders (full disclosure, we’re members) might also be a good start though there’s nothing better than meeting your lenders face-to-face.

If you have not checked out Triangle Real Estate Investors' Association (TREIA) at TREIA.com, it is definitely worthwhile.

This is one of the pockets where the market bubble is rather isolated from realities which exist everywhere else :) Thanks Ben, So is the consensus then that there is zero interest rate risk on the horizon that we would need to plan for in our exit strategy in say, 5 years or is there a small but manageable risk, or a larger but manageable risk, etc.In other words, what do you think is the most likely interest rate and market cap rate scenario 5 years out and what steps can we take to manage any associated risk?

The Vacant Land Purchase Agreement from the California Association of Realtors has a "lack of compliance with any governing documents or HoA requirements.

So those that will make unsecured loans for your real estate deals are usually family friends close associates..

No matter what style of investing you choose to use, there is always going to be some element of risk, even the opportunity cost associated with tying up capital in anything (CD's, stocks, a loan etc). 

Multiple special assessments in a short period of time is usually indicative of there being problems with the condo association. 

There is TXR-2006 Residential Lease Inventory and Condition Form from the Texas Association of Realtors.