They spent more than $14,000 per apartment to outfit them with rugs, throw pillows, art and chandeliers.

All of the big players in the management space will NOT collect a deposit due to the way the law is structured. 

What have you used/seen so far in this space yourself?

Buyer issues range from only 2 parking spaces, One furnace and the need for some kitchen and bath refurbishment

I plan to consult an architect on whether we have space to add stairs and finish the attic, but not sure how that will shake out.  

These loans can be more versatile, allowing you to take down a property like this which may not work on other loan types.IF you have enough space on the lot AND other locally required things are true (like total sq. ft of the lot, linear frontage feet, etc) you may be able to purchase this using a commercial loan, split the lot into two (or rezone using a SPUD type of specific zoning modification) and end up with a fully marketable property, even if what is there now is not.Best of luck, Kurt!

With a professional career in real estate investment and management in the small investor space, I have had the privilege to witness many pivots to the industry. 

The property is about 8 acres and consists of 40 spaces which includes 20 mobile home pads, 20 long-term RV Pads, and a stick-built barn for storage and laundry.

The theory is that vacationers will increasingly want their space and breathing room. 

Very interested in the MHP space here in Utah.