After curt Smith commented on the Lonnie Scrugs books the whole post went sideways into bashing Lonnie Dealers, Curt is right, but several of the books give a decent big picture overview of owning an MHP.

This property only has one retail space, which was a drug store for years who recently moved into a new, bigger building.

A strong Op Agreement will cover the Ds - death, divorce, disinterest, drug use, default, etc. and how capital shortfalls and draws are to be addressed.  

And be very careful thinking that some of the exceptions will apply to a dealer, someone in the business because you probably aren't.The quickest and most accurate education on this would be from @Ken Rishel since he is current on attached legislation and owns a finance compliance operation for lenders.

You can bypass yourself if you are a dealer.

My conviction was over 10 years ago (drug felony) and i have been off probation for over a year.

Not much if any; drugs or violence.I'd list the buildings address, but I'm not sure that that's OK on the forums, so I'll just give a description.The building is on a dead end street with a school at the end (my elementary school =) Another building across the narrow street with houses lining the rest of the block up to the school.

How does contract assignment relate to IRS real estate dealer or investor status?

I've now backed out of two deals within my inspection period either due to shady owner (pretty sure related to drug cartels) or owner wasn't willing to budge on a $12K roof repair.The last deal was a triplex that had an accepted offer contingent on increased rents and inspection. 

I recall a car dealer that was cheating and it wasn't worth our while to raise a stink, a simple call to the State HP investigations was all that was needed, as we went back a year later and that guy was gone.