I'm mostly worried that it would be difficult to ever fill the park out and capitalize.

@Aaron Flake Yes, I'm thinking to BRRRR in high cap rate markets where rental yield will be highest.

@Brandon MalbroughThis is the method I use.So you may or may not have all Tenant owned  or all park owned or a combo or the two.Take your pad income minus your expenses and divide by your cap rate.

We want to keep the group on the smaller size (capped at 10) as to not lose focus. 

Each stop gap introduces additional costs and increases the barrier to begin litigation against you, and when established correctly can make it tremendously expensive and difficult to be sued.

My local market and rental laws make it difficult to invest here.

Thien Based on the number looks like a decent opportunity around a 10% cap.  

Also, I was naive about how difficult it can be to run a successful flip if trusting contractors who make promises but fail to deliver How did you find this deal and how did you negotiate it?

Hopefully, you can find someone to split the down payment with, or to fund the down payment completely.An alternative solution is that you could potentially find a hard money lender to fund the deal, but that will likely be difficult with no experience, even if its a homerun deal.Robert Leonard

The IRR is low, and the cap rate is below my threshold (although cap rates aren't generally used for non-commercial properties, it is still an interesting metric to consider).