At this point we favor markets that have both growth and appreciation but you have to buy right and these are getting pricey so our next focus would be on higher quality/class homes in stable markets.  

The area should have job growth, and especially long-term population growth trends.

Im sure most of the Memphis managers/operators/landlords on here would agree that this hasnt been nor will be an area of growth in the foreseeable future.  

The bigger we grow, the more I think we should run the business like a business, as the 401k and W2 are not adequate or would be painful financially to take out.

This might change how big you could go, or how you put a house on the lot, etc.As far as a decision to buy/hold and pay the taxes, I'd look at the historical appreciation and growth in the area, really try to understand what could be done on the lot, and try to make an educated guess from there. 

You'll probably regret that someday if the park is in a growth area but it's hard to turn down a large cash fee!

If you plan to grow the business, I would get with a pro.

Some have much slower growth than others.

Another thing to look at besides cash flow and price/rent ratio, is future rent growth.  

Just because prices rise does not mean there is a bubble.Low interest ,population growth, jobs location demand are all factors in price appreciation.keep track of local sales in your area and use a realtor to send you monthly sales  reports .