I mean, it doesn’t hurt to ask, but it’s rare/impossible for a conventional mortgage to be in an LLC these days.

Normally I charge for any special order materials up front, first day of work (demo) I get another chunk to cover labor and materials for the week.

I purchased the other unit for a very similar price, but charge $1000/month, as it's in better shape than the other. 

Make sure though that you have reserves in case of needed repairs since you are reducing your cash flow for Year 1.While you would be above the $15-20K range you stated, negotiating a much lower sales price will reduce your down payment and doing a conventional purchase would put you in a much safer situation.Best of Luck!

I don't have a lot of cash right now so getting a conventional loan on the properties would be difficult and I'd like to avoid partnering with someone if possible.

Since it's a grandma special, I secured a conventional loan for the home for just the purchase price. 

It is being held in DFW, Hurst Convention Center.

don't forget about mowing, snow plow/salt, some turnover, taxes for your manager/workers comp, free lot rent, money for your management time, accounting software, LLC set up cost Your going to have more of a greeter in a park like this, which would be free lot rent only and maybe $5 a lot...smaller parks have really thin margins...if you have 2 tenants move out, die, leave town, get arrested, whatever, you then lose 14% of your tenant base and monthly income for the property, get to 5 tenants and your at 40% which could throw your loan into nonperforming very quickly unless your willing to come out of pocket on something like thisjust to show your top gross revenue will never equal 40,000(210*14*12=35,280)just do your diligence and i wouldn't pay more than 200k for something like this...and thats a stretch or if there willing to carry some of the papersomething this small, don't turnover to a property management company because they don't know what their doing normally with a park like this and their going to charge 10% of revenue probably.

@Trey Goodwin You have to refinance after that period on current interest rate or you can get conventional loan for longer term like 30 or 20 year fix.

If they specifically need to cash-out to buy another home than seller financing is often DOA.As mentioned, if the have a balance on their underlying mortage- If they want to pay it off it might require a big downpayment- It is possible to leave it in place with a Wrap but that is an advanced strategy and while fairly low risk, the due on sales clause is a concern.On interest rate, my experience is that a seller finance buyer usually has to pay a few points above the going interest rate for conventional/FHA lending so probably closer to 7% these days although it never hurts to ask for lower...All of this is theoretical so the advice to chat with seller to get more information is the right next step.Jeff