The biggest issue is making sure you are following local codes and laws.

Some items to consider are accessible path of travel (gravel is not going to cut it), potential elevator, potential historical preservation involvement, and the biggest issue is if a business can garner enough clients to cover the cost and still make a living. 

Exhaust your no/low-cost education options before spending a lot of money; there is lots of high quality content available for <$100.Books: Mobile Home Park 10/20 Investment System by Dave Reynolds, Frank RolfeMobile Home Wealth Part 2: How to Become Even Wealthier investing in Mobile Home Parks by Zalman Velvet, Stuart SilverThe New Investor's Guide to Owning A Mobile Home Parkby Laura Cochran, Erin CochranAlso check out The Mobile Home Park Academy and Mobile Home University websites for their free “biggest mistakes” eBooks.Park Place Education has a free eBook available on the site.Podcasts: The Mobile Home Park Investing Podcast with Kevin Bupp and Charles DeHartMobile Home Park Investors with Jefferson Lilly & Brad JohnsonMobile Home Park Mastery with Frank Rolfe Mobile Home Parks In Real Life with Ryan NarusWebsites/Blogs: Park Street Partners - http://parkstreetpartners.com - This is the investment firm run by Jefferson Lilly and Brad Johnson.

Hello everyone,Cashflow isn't my biggest priority but I want a balance between cashflow and equity.

Your REIA will be a good source for one if you don’t know one.

If you're unconfident of identifying them, bring in an engineer.One of the biggest issues you'll run into is fire blocking.

So what you are saying is that as long as my tax return reflects the additional income appropriately then a lender would have no issue with using it as a source of income when applying for a mortgage?

The second and probably biggest issue with loan approval is that most underwriter's will spot that the property is leased out for another eight months and will stop the loan from going through as an owner occupied loan. 

So, I get in my car after viewing property, turn on an old BP podcast from 2016, and they immediately start talking about a purchase in Chicago at a 4% rule, and how it was the biggest headache ever and the money wasn't worth it.

Zillow for example has not managed to turn a profit yet since their launch in 2006, they are desperatly looking to add profit sources.