Never going to be able to turn a profit renting it out.

Newer parks that contain more expensive mobile homes are better, but my guess is the older run-down parks are more profitable for an investor.

If I knew an attorney, or know how to resolve this situation I could handle it, or just sell the deal, as there is good profit there. 

The info is as followsProperty 1: Rents for $1850 a month on a 9 year lease (7.5 years left) to a Arizona specific non-profit.

For areas where the median home price is over $400,000, how much profit do investors look for on deals when buying from wholesalers?

Your tax implications likely won’t be at the LLC level as most states see LLCs as a pass though, any profits are personally reported.

Now this would have tax implications because you would be owed 1% of the business profit every year, but all I am saying is that their are ways that you could be an owner and therefore not need a license. 

Rather, HELOC funds are perfect for short-term activities like BRRRR or flipping where you can relatively quickly recoup your investment, pay off your HELOC, and generate profit.I hope there are a few helpful nuggets in there. 

How could I structure this where we fix it, I list it and also get a % of the profit at the end? 

Happy to pay a origination fee and interest or split the profit as appropriate.