I'm conducting research here in New England for firms that facilitate MHP residents purchase their Mobile Home Park and transforming the park into a 'Resident Owned Community'. 

@David D'Arcy As a newbie who may encounter this in the future I want to ask: have you or are you going to conduct a pre-vacate inspection to determine the state of the units before telling them to leave?

Real estate brokers may conduct business as a self-employed broker (sole proprietorship), corporation, general or limited partnership, or limited liability partnership or limited liability company.

Marlisa, Like Gerald stated, I'd suggest that you conduct more research on the market you're going to be investing in. 

I've never seen a good option contract from any internet source or guru.An option, as Brian eluded to, is a sales contract with the default provisions taken out for the buyer since there are no requirements to close an option.An option should address every issue your local sales contract addresses, the whole idea of an option is to conduct a sakes transactions at a later date, but at the sole option or by choice of the buyer.Not addressing settlement agreements means you, as a buyer may elect to buy and then later have to agree how you'll buy.

Bottom line, a home inspection is only as valuable as the person conducting the inspection.

IRA Services Trust (iraservices.com) is pretty decent for holding a single-member LLC and their fees are pretty reasonable, when you're using an LLC to conduct business.

I am about to conduct a cash out refinance on a rental property in the state of Texas.

An inspection is conducted by a licensed inspection professional, who will analyze features of the house such as electrical wiring, plumbing, roofing, insulation, as well as structural features of the home.

I'm a little late to this thread but we have quite a few Development (and Conversion) Deals in the works and also conduct a 3-Day Developers Academy.We, too, normally recommend value-added existing  Facilities but sometimes it does make more sense to build than to buy.