I was once in that position and it was not until I learned what a good deal was and was able to present the numbers to others did I find someone that trusted me to start. 

Are you considering a 1031 exchange to defer the CG taxes?

I was presented a similar deal and I’m not familiar how to structure it or what contract to use.

Stay healthy, stay away from bad people.Some ideas to find the deals:walk/drive neighborhoods, look for neglected propertiesadvertise, newspapers, radio, pass out flyersWrite a nice letter to landlordsWhen housing court starts up again, meet landlords there - chatCall and visit owners of Expired Listings - make offersBuild a relationship with a few Realtors, offer to pay them a fee (3-5% of purchase price for unlisted buildings) for presenting your offers to FSBO's and expired listings (auto pilot investing) The purpose behind this is to open negotiations with sellers, I always offer well below their asking price BUT IN WRITING hand delivered by an agent (you save time, cost of gas and you increase the odds of finding a fat equity deal)Study Real Estate Control techniques; delayed settlement, assignment clauses, all types of options, hybrid or JV with sellers, repair consideration with possession (known as front porch offers) use one of the 21 proposals for seller financing (the best highest leverage financing you can get)My LOCK-DOWN has proven to be profitable, I have time to network and develop clients nationwide to mentor/partner transactions.

Using a 1031 exchange also gives investors the opportunity to indefinitely defer CGT.

Things that we are trying to consider are:The ability to obtain a loan in the future (lower AGI from depreciation might hurt us) and recapture taxesI figured that if we sell an investment property, we would likely reinvest via a 1031 to defer our taxes, but would love some opinions on others that have gone through this and might be able to share their experiences for setting up a good foundation.Thanks so much in advance!

The big question is should I be looking harder where I think we will ultimately end up or should I just be present and get a few under my belt here where I don't have as much long distance heartache and where I have a support network?

It is not in a flood zone.Initial plan (could always change) is to keep the park owned homes, purchase new mobile homes as good deals present themselves, place them in park, offer a lease to own option to new tenants, transition to lot rent once the mobile home ownership transfers to the tenant.I believe I can get this property for at least $235k, likely a little lower.  

Those funds could be compounding tax deferred for many years.

We'll be working on a business plan, projections and a presentation for him to take to committee for approval of the construction and development loan.