When I evaluate a park, I value the land (MHP itself), park owned homes, and park owned notes (seller financed/rent to own) all separately. 

But I truly enjoy comparing notes with others that have a similar background.  

Our HOA documents clearly note that any structural change or change to the exterior of the home requires written approval of the trustees.

And Dennis' note about how the county assesses tax values is very accurate for Bell County.

I recommend you put in 5% and the seller take a carry back note and you secure long term fixed rate financing (traditional).

I was under the impression that lenders wouldn’t lend (or make it very difficult) to an LLC and/or you risked them calling the note should you transfer after the sale. 

Purchased the note for $15k.

@Andrew Syrios noted and agreed, thank you Andrew!

You can then choose to walk away if the numbers don't work.Also, you should request/receive thorough disclosures from the seller/ seller's agent that also notes areas that need repair, or items that were recently replaced (i.e. water heater was replaced last month, etc.).  

Love to trade notes with you and, of course, wishing you the best of luck!