So I guess it all depends on how the business is structured. 

Personal guaranty really depends on relationship with bank and secondarily, your net worth.

Then he will sell and complete his purchase.You've got several options depending on his attitude and comfort level.1.

Depending on what size parks you are looking for , 3rd party management isn't typical for this asset class , at least on the smaller size. 

I just don't want to be on the hook for that amount of money depending on a company that has already lied to me.

Depending on how long you decide to hold the the property it should be worth it.

Also, depending on your income and debt, it may be difficult to qualify for your new purchase until you actually have someone on a lease occupying your old home.  

You often find 1/2 duplexes being sold in downtown Frederick from low 100s to mid 200s depending on the location and finishes...

Im 24 with a BA in FinanceI actually have not gotten a job in my field but went into soccer coaching for which is something I'm passionate about, I would just rather do that as a hobby rather than a means to build wealth and depend on it for a living. 

@Chris Hodge depending on where you live, there are actually companies/services that will take care of getting the information for you.