I've used Pam Cook (google Pam Cook/insurance/Kokomo and you'll find her) for my residential properties (full replacement cost, great policies) and am working with Derek Lacy for my larger commercial properties.  

4.What is your average turn time on repairs and replacing a new tenant and how long are your units typically down?

Have you spoken, with the current Management Company, to ascertain if there is any existing maintenance that have been deferred such as roof replacement, window replacement, major electrical and plumbing systems, etc.?

Trailers old and in decline, yet still rented for the most part....Price is decent or probably be negotiated to such.My question is can a MHP come back to life with an infusion of newer but used trailer replacements and some investment in infrastructure or has the long years of decline permanently turned away future potential?

Custom homes can be very expensive to design, engineer, finish etc.

@Mitch BorgenYou could replace the kitchen cabinet doors with nicer ones.  

If you want to make their life easier, offer to replace the toilet with one that is chair height (also known as high boy or ADA compliant).

Problem with laminate is that if you get a busted piece in the middle of the room, it's a huge hassle to repair/replace that piece.I would recommend you go with Allure flooring from Home Depot instead.

You need to know in your head what a paint job will cost for a certain size home, what flooring is per square foot, what it will cost to replace a bath and a kitchen.

A friend recently had their roof replaced, so I will ask who they used and report back.