A minimum of $100,000 of liability coverage needs to be obtained by the provider of your choice.

It will only be a matter of time before you run into other like-minded individuals. 

So, usually, with a manufactured home park the owner of the land pays the “land” portion of the property taxes, and the individual owners pay  personal property tax on the “improvements”. 

Does anyone have experience with this or any advice on how I should approach individuals.

And then cross check that against the rent roll or whatever your estimates for the rent is.It might be some work, but digging into historical caps when the owner purchased might give you an idea what the markets done, or if the owner just made a really bad choice then paying $750k.Best of luck - sounds quite exciting with some potential!

I don't think you can do a good job managing rentals from 150 miles away but that's your choice.

I know Lenders loves to look at individual properties, but when you have 1 entity with multiple properties then CPAs love to just get a consolidated financial. 

Ocean City would probably be my first choice for a reasonably priced beach house with decent financial metrics.

If you plan on having individual showings, give legal notice when applicable.

Although my brother and myself are in talks with some different individuals to fund the deal.