I’m curious...your average annual returns are nearly identical between the two different scenarios, but the rental scenario obviously requires much more work/time/headache to obtain those returns.

An estoppal certificate is a legally binding document that the tenants sign to affirm or deny any information that the owner has told you. ie.

For example, if I can obtain $50k sweat equity via a value add, I start with a positive position.  

I also obtained funds from my parents retirement account for rehabilitating the property.

If you are a buy & hold investor, the Land Contract doesn't mean much for you unless you were trying to then sell the property or obtaining additional financing with this property as collateral.

You'll obtain acquisition, property management and project management experience along the way.

I don't think you need a clause in the GC contract b/c they shouldn't have any affect on the type of loan that you obtain. just my $0.02

These figures all contribute to your total cost of capital, and represent important points to consider as you go about obtaining a loan.Term length: How long is the loan?

@Mike Reynolds and @Dave Rav generally, outside of seller financing, the common types of debt available for MHPs are:Local & Regional Banks - You can find out which banks have an appetite for mobile home parks by asking the MH/RV brokers in your area, networking through other owners of parks in your area, or simply obtain list of the smaller banks in your area/region and call them to see if they have lent on parks in the past.

In order to "do anything" as far as conversion or repositioning, you will need to get a certificate of non-harassment from each and every resident.