You are essentially trying to predict what rate of return investors would expect in the future and would be willing to pay for.How to you make that assumption?

Essentially, this will become your problem as a park owner.

He has a perfect piece of property on the edge of our small town to essentially start another block of town.

Its possible that I would leverage it into having them stay longer or you getting a gift essentially.

This is a relationship business so meeting w/ brokers, property management companies, lenders, and attorneys is essential.  

Something similar happened to me... essentially the lender made a mistake thinking I would get approved for 3.5% FHA on an owner occupied duplex, but underwriting came back and wanted a higher down payment.

Which essentially means no one entity can own over 10% of the REIT.

Yes, a refi appraisal should be after work is done on the property, same process essentially.

Just make sure it cash flows and you understand all the expense you'll be responsible for.My first two properties have been essentially turn key, although not from TK providers per se. 

Imo on your first deal, just hit a single, get something essentially turnkey ready.