Which if I pay will not leave me with any cushion for safety. 

This is essentially saying the market rent needs to be equal or greater to the total mortgage payment (collected during appraisal).

Since that time, bulk owners have purchased thousands of units, some of them at bargain prices, and now seven years later, most condominium“The Florida Distressed Condominium Act was essential to the recovery of Florida’s condominium market”, says Carlos R Arias, Partner with Arias Bosinger, PLLC.

Notify all of the tenants, and let them know that you are concerned for their safety.

However, from my understanding, house hacking is essentially splitting a property into two parts, business and personal.

@Sean Hayes If the county is condemning the existing mobile homes on the land, that means there's a serious health and safety issue for those existing structures.

This structure gives the investor a chance to get out of the ARM with little or no penalties after year 2 (1% is almost negligible in most scenarios) and essentially gives a 3 year window to refi before any adjustments ever occur.

Essentially this property never hit the market for re-sale.

Having capital on the side to pay the interest just adds a margin of safety.  

I know there is talk of creating a virtual mentor program (I think essentially where you do a case study online) but nothing is finalized there yet.