If so, is this risk mitigated by the park owner being able to clean up the mobile home park and rent it to someone else quickly, maybe someone moving from an apartment.

A lot of times motivated sellers need cash quickly and are not in a position to carry the note and wait.With that being said I don't see why your plan wouldn't work as long as the seller understands the terms.

You've obviously learned a lot very quickly.

The shift can happen quickly from buyers market to sellers market and vice a versa.

Good for you.Numbers look good.was the seller motivated to sell quickly? 

If you can offset most of the cost (or all of it) by "house hacking" you can save up that extra money for the next investment.In your case since you've already saved up almost a 20% down payment you could use those extra funds on another deal quickly. 

The end buyers would have to scramble around and refinance quickly.  

@Paige Kelsey From a quick glance, looks like you've got this one amortized over a 20 year am.

I purchased this for 60 cents on the dollar because the seller already purchased his retirement home in Florida and wanted to close quickly. 

Quick question for the forum: Does anyone use the Bureau of Labor Statistic's CPI Inflation Calculator when assessing the value of a potential investment?