Paul, these lower-end areas tend to be the places where you can cash flow like you're describing, in addition to Richmond, Vallejo.. 

Not sure what state you are operating out of, but you may reach out to an experienced wholesaler, and an investor friendly broker for additional information.

How long did it take to do the rehab/addition? 

If you have the debt bandwidth, you could potentially take on additional loans and use the equity from the sale as down payments, giving you a tidy little portfolio pretty quickly.

The patio is deep and should I want to in the future I could build up in the back with an addition.

In Lincoln, RI I not only ran into an additional Fire Tax on the property but a Fire Tax on the vehicle AND a $100 per unit Sewer Tax.

Weed out the dilapidated MHs (which from the outside is most of them) Sell off as many MHs as possible striving to be that no park owned homes kind of place to reduce the maintenance costsHire professional management which should ultimately make the park more efficient therefore creating more cash flowDress the place up with some landscaping, maybe a new sign at the entrance, an overhang for the mailbox area, maybe a play park to really make is a classy family community.... basically whatever will make it appealing but still cost effective instead of the junk yard it is nowThere are roughly 5-7 of the approximately 9 acres for sale that are undeveloped.

I would be getting an additional $3000 if I stay for another semester of college in spring, not including any additional income i may get from saving with a part time job.

If you can reduce by an amount that still keeps you in your acceptable range for rent, try to find a way to keep her.You can give her options too, between leaving without penalty or staying with reduction in x-amount.

So if back that out of each payment to get your new interest rate and if that is not enough return, keep connecting with this note seller, he may reduce his price sometime in the future, and then again, he may not . . so keep fishing.