This is how I would structure this deal Shequila:Offer price: $65kDP: 20% [$13k]Seller carry paper: $52kLoan term: balance amortized over 15 year at 5% interest Exit: Balloon Payment at Year 10 [Seller might counter this, so use as a negotiation element (reduce to, say, 5 years)]Monthly payment to Seller: $411.  

Payed an arm and a leg in taxes this year (I know not a bad problem to have) and want to reduce the cost next year.

My brother will end up handling it!

The numbers may be great but you need to understand the headache factor involved for you if self manage or how much it would cost you for a property manager to handle.  

At this point we've been reduced to just calling police for noise complaints when other tenants let us know but I'm not sure if there is anything else I can do shy of aggressively demanding the other owner get his tenants under control.

How will this be handled?’

I would be skeptical about everything at this point because they were obviously not set up to handle this project.  

You may miss good deals while waiting, and more importantly, you will miss on making connections and getting a name out there for you as an investor that focuses on X or Y niches.However, you can definitively do something to take advantage of this market (high valuations and easy access to money) and your situation (low LTV and hopefully good cash flowing assets and personal financials) without having to deplete your cash reserves paying down loans or reducing your cash flow by getting me loans. 

Most investors when they buy don't pay much attention to it and the only result will probably just be higher property taxes, reducing your NOI.Can you subdivide?

The more this gets discussed the more my gut is telling me to find another park for sale but this one is like 10 minutes from my house and would be convenient to handle the day to day operations.