If adjusting rents up to market, I highly suggest just writing a normalized new term lease, no reason not to, even if the term is 90 days it's important to have clearly defined expectations in both performance AND duration.

If there is a third party that can handle those issues for you then it might be worth it but that will come at a cost too. 

Simply remove the financing contingency, make the earnest money non-refundable and be willing to eat that cost if you fail to perform.

In TX pretty much all title companies perform the same basic functions.

I received its financials today and upon looking, it's 12-months performance puts it at 5 cap, and factoring in mortgage puts CF negative. 

I would suggest having an attorney to put their info in the Third Field, incase anything legal gets mailed to you it will also go to them.Johnny

. - The buyers signed the release of contingencies at the end of the 60 days due diligence period - Buyers didn’t perform and asked an escrow extension of 4 months which was granted against a full release of the earnest deposit - Buyer signed the release and EM was transfered by the escrow company to my account- After the 4 months period buyers failed too close again- I served a notice to perform as well as a demand to close escrow- Sent the cancellation of contract and escrow but buyers refused to sign and informally communicated their desire to recover their EM- I refused to return the EMWhile the contract is likely dead, the unfortunate consequence of this situation is that the open escrow must be disclosed to the new prospective buyers which obviously is a turn off and causes me financial damages.I talked to an attorney who thinks the contract is void and suggested sending a formal letter to the buyers from his office to have them sign the cancellationThoughts anyone?

The way to determine value on a park like this is not to focus on how the current books are kept, but to underwrite to how it will actually perform if you run the park correctly.  

And third, I just learned this today: In order for me to be able to qualify for a FHA cash-out refi, I have to own the property for at least a year, meaning no longer the 6-month “seasoning period” if going FHA.Is there any other options that I can do?

@John CarlsonMy advice is to start with a market you want to invest in and then identify a secondary and third market to increase flexibility.