Might not feel like much.

If a licensed real estate broker, not a salesperson/agent, has “made or arranged” the loan, then the usury law DOES NOT apply.

Good luck and feel free to reach out with any questions! 

Most times you are probably talking septic systems (otherwise you are in town where things are much more likely to be restrictive (zoning, ccrs, limits on how old units can be, etc)there are considerations for used mobiles that you may not think of initially- , such as for example securing insurance being difficult or near impossible in some cases if the home has been moved more than once.I'd love to hear more input from any others who have dealt in used manufactured (single and doublewides, HUD, made after 1976).

BTW, they do not have to be done by an architect at this stage--your rough sketch should suffice.I made copies of the drawings and highlighted each system. 

What made you interested in investing in this type of deal?

Reece,without full financials i cant advise much, but i'd be leary if the deal doesn't pencil at least ok while the current rents are in place. reason being is you'll still have your expenses (PITI+mgmt+repairs etc) until the units can vacate, no rent remodel, lease up again. with that much repair it feels like you have a LOT of DD before diving in.

Feels like Partial 1031 Exchange would also be an opportunity, correct me if I'm wrong @Dave Foster, if you continue to rent out the property after the sale. 

I've noticed the forums provide a wealth of knowledge from individuals investing in a wide variety of strategies and feel this is the best place to start.

What made you interested in investing in this type of deal?