You might consider adjusting your criteria because the 1% rule is not a very good litmus test, imho.

We're interested in living a diverse community with great schools that include high test scores at both the HS and elementary levels.

This house has been the biggest test of my professional career and thank goodness my mother KJ Schwab raised me right to never quit.

If the idea that everyone needs to be tested prior to getting on an airplane passes, then yes.

Now aside from verifying that the site can be used for mobile homes and that I can lease to X number of units, would the only other thing to preemptively check would be perc testing and then cost of water, sewer and electric connections?

Any creative leases have probably not been put to the test yet. 

Generally, yes as long as the individuals meet the ownership and use tests separately. 

Hi Tyler,Pros: One operating agreement, one EIN, one bank account, one filing fee and one annual report.Cons: It has not been tested in the courts.  

If I did this, I would plan for my exit to be a hold, and stress test all of my ARVs to come in under and budgets to go over. 

Hi @Sammi LiuVacancy rates: there is no real data available industry wide for vacancy rates in the rental of Single Family Homes as most of the data we have comes from the Multi-Family market - so properties with 2+ units.Your most accurate sense of the vacancy rates will come from calling and asking current Property Managers and even then it will be anecdotal and possibly biased by the desire to secure your property rather than accurate data you can use to assess your risk adequately but it gives you a 'feel'.The best way to get a sense of the vacancy rate of Single Family Homes is to test the market.