If you can sell the homes for 20k each, that is a value of $460,000 for the homes, resulting in you having paid $840,000 for the park, meaning $66,240 / $840,000 = 7.8% cap rate for the parkIf you plan to keep all the homes as park owned rentals, your expenses will be a lot higher, your tenant turnover will be a lot higher, and you lose all the powerful benefits of MHPs.  

Not starting is worse than losing money.

You 'lose' money on the sale through closing costs.

You win some you lose some! 

I was looking for a starter property where not a lot of cash was at stake and I could potentially make some mistakes while not losing a fortune.

This way you don't "lose" the home you want while waiting for the heloc to become available.

The vehicle loses a ton of value in the first 3-5 years.

This would make your correct CF's:Actual = $18k - $18.7 = -$0.7k/year...as in losing money every year. 

Brandon, ultimately you will do what you think is best for you but it's been my experience that selling a cashflow property that is producing positive cashflow before the 5 to 7 year mark will usually lose you money.

They have no other options other than lose everything.