I am looking to purchase a second property while using the appreciation on my existing property as a down payment(30%).

When you sell the POHs to the existing tenants (or new ones) you will recover the price you paid for them and you still have the same value remaining in the park. 

Also, in terms of the cost, we want to cut down and looking for options like bump-out which could cost us less since it doesn't involve touching existing roof and foundation and use this bump-out to add the bathroom.

The previous owner told us she informed the existing tenants that the new owners (myself and my partner) could be asking for higher rents and we could ask them to leave.

Also, in terms of the cost, we want to cut down and looking for options like bump-out which could cost us less since it doesn't involve touching existing roof and foundation and use this bump-out to add the bathroom.

Step 2 is making persons aware of your existence, and the last step is keeping up in step 1 and 2.

Is that even exist in today’s market?

Fun to see you excited and would say talk with attorney and draft up a Lease to Purchase Agreement if you and seller can agree on terms (since he has existing mortgage).

In addition you can rollover existing IRAs into a Solo401k.

This is all aimed at stable income that exists when the tenants own the homes.