If so it means that the annual net profit should be comparable to 1/27.5 of the house cost which is less 4% of the house book value.

Also check if the rent escalations are 3% annually, per CPI, flat, etc.Whatever the case it's imperative you thoroughly analyze each lease during due diligence and obtain signed estoppels for each tenant that are consistent with seller's conveyed info.

Bi-weekly would be 1/26th payments of the annual lease. 

While the latter is probably quite a bit more expensive, it limits your inspection to once every three years rather than annually.

@Jacob Phillips - Use rules of thumb to see if there any potential, it's just a quick way to see if there might be room for an offer.Gross potential income-10% Vacancy= Net annual income-50% expenses=Net operating income/ Cap rate %= offer priceGPI  $100,000-        $10,000=        $90,000-          $45,000=       $45,000/        8%=       $562,500If you're with 20% of the asking price it may be worth looking into.

If they do want to renew, then have them sign an annual lease March 1st for the following year.  

Under a sale leaseback scenerio same idea, annual cash flow from rental income and long term appreciation. 

Annual increases are documented in the lease. 3. current mortgage and rate.

How does one estimate the cost of annual taxes for a mobile home park?

It costs a couple thousand dollars, maybe 80 hours of class work, testing and annual refresher training.