Checking rental references is critical to confirming a good tenant.  

@steven_johnson - a few distinct differences between 203k and construction/rehab loans.203k financing is for owner occupied only.

Currently only 8% of our customers are coming from there.Customer base: This is an older part of the larger city made up of very distinct demographics; Spanish, Old Italian area, and downtown techie/entertainment area.

There is not clear distinction, it is a feel for the area. 

Know how to take constructive criticism.

@JD Martin Thank you for the reply, I can def take the criticism :) I will say that I am a first time home buyer so I am learning a lot.Regarding the pests, you're right, I can take care of those.The building is much older than the heating unit, I assumed that the appraisal for the home would be affected by the state of the garage (both roof & walls), I was not aware I should've considered those before placing an offer, I was under the impression that I did not have to identify these things in a walk through and they would be discussed during inspection/appraisal/negotiations.About the smoke/CO alarms, this is not a major deal, but local law states if they don't have working smoke/CO alarms they have to pay me $250/unit.

Just understand you're dealing with people who have different customs, language, time zone and priorities than us.I've found video tutorials and painfully detailed explanations to be critical to success. 

The most critical component is reliable boots on the ground.

There are so many variables in MH/RV parks that can wildly effect valuation, it is critical that you not only understand them, but you take a conservative approach to expectations of the upside as well.

@Kyle Eckertas @Jack Martin mentioned you must not skip over this critical step.