Generally speaking here will be your main goals to hit:20-25% Down payment1.25% DSCR scoreThe higher the credit score the better the terms really3-4 months of reserves, and usually an additional 2 months for each REO owned.

So, in addition to the park requirements, I would like to know how the rental process works for the RVs specifically.

If those were my choices, and I had just $40k to start I would wait till I could get more to enter a better market or put that money to use in just govt/private debt.

These are professionals with additional training and a stricter code of ethics.

One is debt and one is equity. 

Sometimes raising the rent a small percentage would take years of additional tenants for a few months of vacancy4) What's the 'right thing to do'.

I think a sauna is a great addition to any STR for obvious reasons... the liability side is something a good insurance broker should be able to help you navigate. 

She planned to leave that small house, put a little work into it, and having it serve as a separate mother in law suite in addition to the newly constructed main house.So far, the first acre has a septic tank, well, and a foundation built.

You may also go up to 80% as long as the property debt services at that loan amount. 

She planned to leave that small house, put a little work into it, and having it serve as a separate mother in law suite in addition to the newly constructed main house.So far, the first acre has a septic tank, well, and a foundation built.