Is there some deferred maintenance that needs to be addressed?

Your responsibility in a 1031 exchange in order to completely defer all tax is to purchase at least as much as you sell and to use all of the cash proceeds in the next purchase. 

If you do your 1031 Exchange correctly, you can defer all your capital gains taxes.

I will defer to Tim for this situation.

You do have to purchase at least as much as your net sale in order to defer all tax. 

How much deferred maintenance on the park?

To follow up on this post, I recently realized that using Seller Carry-Back financing (seller holds a mortgage lien) as opposed Installment Payment financing (more commonly known as land contract and contract for deed) that both methods benefit the seller the same with regards to treating income as an installment sale (defers capital gains over the term of the loan), but with Seller Carry-Back financing legal title transfers at closing just like a bank loan.

The only way I see that happening is you putting money in it to rehab it, which would imply you are buying a property with deferred maintenance or other similar characteristics, which just limited your potential buying pool further.

If you put yourself in a position where you’re holding the property for a long period of time and have no money to keep it up you’ll have a lot of deferred maintenance and an undesirable property.

However, the interest rate on the loan would be higher.When you sell it you could do a 1031 exchange and defer taxes on all of the gain that is reinvested in another property.