The rate is about 5.25% or similar for 5 years.

Parks get shuttered and sold for new development when park owners fail to keep rents ahead of inflation and competing CAP rates and other uses become more lucrative.  

Interest rates are high today, but do I wait and buy when rates drop or wait when prices jump? 

Funding: my plan is to shop around hard money lenders for purchase and rehab for best rates/fees/down payment.

@Gerald Maczuga,The Long Term Capital Gains rates for 2024 include a 0% bracket for "married filing jointly" that caps off at $94,050.  

@Vicente HernandezReal estate agents tend to prefer property management firms that have clear payment plans, fair commission rates, an easy referral system, prompt payments, assistance and tools, and a good standing.

BUT I also know that I probably won’t get such a low interest rate again in a very long time 😅 so I don’t know what to do.

This sounds like it would possibly be a rate and term refinance since your balance will be $203,000.

This will be my first rental property so want some advice.Purchase price - $195KDown payment - $59,176 (25% plus other closing)Annual rental income - $29,424 ($2,452 a month for 4BR)CoC return 10.7%Cap rate - 9.7%; Price to rent ratio - 6.6Cash flow will be over $5k per year after paying taxes and mortgage.

Your tenants will either pay market rates or move in with family.