The potential tenant still has to fill out your application for the property. 

Act like you don't know anything (which generally we don't at this age) and open your mind and way of thinking so those good at what you want to do can fill it. 

I received a letter asking me to fill out income and expense information.

You'll fill your space pretty quickly. 

It will be cash flow positive either way with 4 or 5 bedrooms, but 5 is obviously higher (if all the rooms stay filled).

Inherently more volatile and behave more like a motelRequire a lot higher degree of management than MH parks, especially if the park has daily trafficYou can fill up an RV park way faster than a MH park (a MH park can also benefit from RVs if there are vacant spaces)Depending on the location, residents stay for a night, a week, month, or a seasonCapable of producing higher cash flow than a MH park, but with volatility due to seasons and market cycles.

There is a lot of wasted money in their fees/points/etc.Though, if you are experienced and you simply want to do an extra deal and:a). lack the on hand cashb). do not want to share with a jv partnerc). for some reason have not developed other funding optionsit may not be a bad deal.They are filling a niche.

He sent me a barrage of documents to fill out as well as gather supporting documentation.

Also, at least here, all I have to do is fill out a request for each file that I want to look at and give it to the clerk, who pulls the file.

The properties section on BP kinda fills that need.