I currently have conventional loan for my first property, so was thinking of assumption loan with current mortgage current rate of 5.5%.

The park could be worth what you say it is if mkt lot rents are 300 plus a month  making the assumption you are on city utilities.

One is Seller Financing, and the second is Assumption of the current loan (if possible). 

When economic performance is viewed through a political window of presidential time lines you have skewed and incorrect assumptions made, usually simply to place blame on some administration, political garbage.

You don't know what the future will hold.One thing: your property management fee assumption of 3% is very low, unless you have some kind of special arrangement (and you assume that arrangement remains true for 30 years).

Just added a little bit of formatting to make it look nice so I can quickly copy and paste the tables into a document if I ever need to present a deal to a lender.I can send you a copy, but I recommend going through the exercise of putting one together yourself, just so all the assumptions make sense for your case.In addition there is always the BiggerPockets calculators you can use!

The return numbers on your rental analysis look very appealing because they're based on what is likely a false assumption.

After PITI, there is about 15.5k/yr leftoverOwner paid utilities = 2.5k/yrUsing these assumptions:12% of rent for a PM = 5.5k8% of rent for vacancy = 3.5kNot including the tax benefits, I'm left with < 4k/yr for profit, repairs, capex, reserves, etc., which is >$100/unit per month.The charged rents seem reasonable, and may be $25-50/mo below what the market allows.The building and units seemed well maintained.

If your looking for a retirement supplement I'm going to make a broad assumption that your not looking to manage properties on a day to day basis.

However, I make sure my ad provides the specifics such as "Pets with owner approval; no puppies please, no aggressive breeds".This, of course, assumes that applicants READ the posting; an assumption I'm finding is more hopeful than realistic with some of the contacts I'm getting.BTW, after several years of having to fix up pet damage/fleas we finally started including a pet deposit of $250 but are generous (I think) in returning this deposit at the end of the lease if the pets do not do damage.