You trade higher risk-higher potenial return for lower risk-limited upside potential.Before you decide either way, just make sure you have an honest conversation with yourself (and/or partner) about your goals and what you can realistically dedicate to REI right now in terms of money, time, energy, and risk.

We have raised S8 rents to far in excess of the stated rental limits by timely notification of a 5 or 8% increase annualy.  

This is often the best option for a first time buyer with limited funds.

Mike:From the limited information you have provided, it appears this might be a good deal, but we need more to really evaluate it. 

But it does limit some of your marketing ability since you do have to follow TREC rules for things like that. 

Also it may make more sense to break the debt into 2 loans so you can stay in the conforming loan limit space on the first mortgage.

The community was presented as a stabilized and clean park but had under market local rental rates.The community is located within the City limits of Declo and has all city maintained water and sewer lines.

Having $100k and asking "what would you do" is too broad...So, maybe it would help to know what I have done so far and where I am financially.Currently have two businesses.Assets-Business 1. 11 units composed of (1 SF) and (5 Duplex)All properties are financed. 3 separate mortgagesBusiness 2. 4 units composed of (1SF) and (1 Triplex)SF is financed and Triplex is ownedLiabilities-Home Mortgage $165k ($1,300/mo)Truck $15k ($700/mo)RV $23k ($200/mo)---Our experience has been limited to Muncie and Richmond Indiana.

(LOL)Most people forget that the first L in stands for Limited, not No "Liability"

Are you limited on capital?