I am aware of the DF regulations to some extent and will use an RMLO and an RE attorney to draft the paperwork but what else do I need to think of ?

In my observation, governance tends to be best in the smallest "willing" locales, so any effort to move in that direction is interesting.

That way you are covered on regs/requirements and you spend your time out finding more deals...not on accounting and regulations.

Ensuring that your residents continue to enjoy living at the park is a critical component of success.Regulation - Mobile home parks have unique regulations that need to be understood and adhered to around the sales of homes, seller financing, and other local and state guidelines.

but that would only be for fha loans or any type of loan involving the government correct??

Congrats on the deal.My guess is that your deal was done with a 506b not a 506dRule 506(d) and “Disqualified Persons”The new 506(c) rule arrived with a companion 506(d) rule, which prohibits “felons and other ‘bad actors’” from conducting Regulation D private placement offerings that rely on any Rule 506 (i.e., 506(b) and 506(c)) exemptions, where a disqualifying event occurs following the effective date of 506(d).

Patrick Donovan 203k loans are great but essentially you are taking the equity out of the house and using some of that to repair your house. lol it's always a catch to something that's too good to be true......I found this out recently as I thought it was just money from a large sum of money the government gives out.

You have to get the building approved as a legal dwelling by your local government .  

Just read all the HOA rules, regulations, terms and make sure there are no other hidden caveats.Personally, $104 cash flow per month wouldn't do it for me.

They are regulated, licensed, etc.