Once you learn the basics stil keep learning and tweaking but prioritize your time investment into what brings the biggest - percent likelyhood of successful payout- volume of payment vs the riskWhen I ran a large call center I compared it playing money ball with time.

But compare that with the fear over years of a misstep that costs you the deferral in an opportunity fund play. 

If you try to get it for the loan balance, to me, one of two things is at play here. 1) you are ripping them off or 2) they are incapacitated somehow and incapable of negotiating a contract.

If you buy an investment property in the mid 350s you would want an appreciation play. 

Is there any other factors you would put into play that I might be missing?

It will be interesting to see how this plays out.

You were not clear whether you were looking to buy a turn key or BRRRR type rehab, though if you are saying you are risk averse I would think you would prefer the lower risk of a turn key directly from a management/investment company (though there are still risks regarding the integrity of the management company you choose, there are a lot of questionable areas being sold for ridiculous prices and you don’t want to be the one without a chair when the music stops).

Many people aren’t flying here to attend or play, but they are driving far enough that they stay overnight. 

I am NOT a professional in this space yet, and I don't play on on TV, but I have listened to about 50 podcasts on this subject and I hear that a well-run MHP with all lot rentals on public utilities should run in the 30 - 40% expense range. 

The city ought to give tax breaks to owners of the buildings if they house the "Type" of business you guys want in that area, and make live music and dancing allowed without any permits.Another nice feature would be to have "Whiskey Alley" streetlight banners on all of the area's streetlight on both sides of the road.Good Luck!