I use my PT intern positions as a weeding out process as about 50% of your hires won't work out for one reason or another.

actually how does it work out?

I will talk to him and see what his feelings are. this is a great way to make sure the bank is happy and to keep things easy to manage. just have to work out contracts on how to work the LLC.

It will make a difference as to how they view a loan workout.

You have no history or track record of stable income with the property.You have to pay special attention to the leases and if anything is bad on them or need clarifying have the tenants sign an amendment to the leases before closing.You would do better to have say a 90 day option period and then if the property doesn't work out just hand it back or if it goes as planned then proceed to closing.You are putting a bunch of money down and the income doesn't have a stable history yet plus it is surrounded by SFR houses and it seems overpriced.Lot of negatives on the face of it.You can get a list of all the repairs and upgrades during due diligence.

I keep thinkinng the best option would be to see if one already exists in a park I am considering, and go from there...or, ask the current owner how intensive of a job managing the park is/can be...and maybe it turns out that I pay the guy in free lot rent plus 10 hrs a week at $10/hr, and have him let me know if he works more...

From a management stand point, it is going to be very intensive (see: costly) and have the same amount of headaches as multis but with increased costs.

But there is intense competition for these foreclosure sales in most market areas.

Since there were some repairs that I wanted to roll into the mortgage, it didn't work out.

I'm curious peoples experiences with how things work out as you scale up in units per property.