I now live a thousand miles north; most folks around here say there is no need for AC, well welcome to global warming.

While the carpet may have been in good shape it does have a depreciating lifespan and at best you are half way through considering 5 years.  

Starting in a new business that you little experience in, that is 1,000 miles away, being overseen by someone that you met off the internet and you are doing it with other people's money is a recipe for disaster.

I have a duplex a few miles away.

@Alex Bekeza @Will Gaston @Andrew Postell got an updated appraisal (89.7k)and it was half of my private appraisal $161k.

I would recommend you live in the half you want to renovate, like you suggested.

$1200/year profit is under half of one percent NOI.

I did that about half a year ago for many markets.

The most affordable strategy is to find good deals on used mobile homes located in other parks and then move them into your park (it usually costs half as much as purchasing brand new mobile homes, which is your other alternative).

I don't see half the same tragic recklessness here as I did in the Hellenic Republic, as it aimed straight for the abyss.