The tanks could be swapped out for roughly 6k all said and done, but that is without county permits, which i have quotes from multiple companies saying they have no problem doing it with out permits.

Might want to read the actual law.There seems to be confusion as to some things, reminiscent ofAbbott and Costello's "Who's On First?"

After conversations with a local bank president and the owners I have been given the option to purchase the property with roughly 18% down payment seller financed and the remaining 82% financed through the bank.

Long term hold - max cash flow (but in a rough area) - somewhere in the middle?

Condos and HOAs can be rough because the fees change, especially as the units age or if there is a repair emergency.  

I think I can pick up both for around $55k. current rents are $750 & $550. taxes are low and it's on its one well and septic. so no other monthly expenses to me other than taxes. kicker is one of these trailers is in rather rough shape and to bring I new one in Id need a variance and the maybe a new septic. thoughts?

Journey started roughly two weeks ago, after months of looking on zillow.

The only way to get it to conform is to solve...The water problem: Both are on one water/sewer line, so new lines would need to be run ($15-20k rough estimate) to split the property, which we would need to do to refinance to two separate 30-year fixed mortgages or to sell the houses separately.Options, as far as I can tell:Buy and hold with ARM and pay adjustable rateA bad idea?

At that time the neighborhood was very rough, with gangs, etc.  

The GC will need to be skilled in rough and finish carpentry.Thanks,Wayne