Depending on how bad the conditions are, accrued pref may never be paid out and original contribution may not be returned in full.If pref equity's original capital contribution is not returned in full, common equity is in even worse shape.

An investment interest expense is accrued when money is borrowed to fund an investment.

Example - if you buy in the original auction and win at 12%, you accrue 1% per month.

The benefit of paying the following year is the interest income accrued.

I feel I could definitely meet both of those on my own, as my husband works full-time , and I will be the only person besides the hourly employees stated above that would be accruing hours.

Out of curiosity, what are your plans for the land? 

It sounds like you’ve got a great opportunity with these two mobile home parks, especially with the flexibility that seller financing provides.Out of curiosity, what terms did you negotiate for the seller financing?

Your background as a licensed architect with experience in commercial and residential projects is an incredible asset, especially here where so many members are navigating construction, renovations, and design challenges.Out of curiosity, have you worked on any projects that were particularly challenging or rewarding?

Quote from @Kevin Mohr: I spoke with them about their VIP program out of curiosity. 

Others who focus on CoC (I focus on IRR and EMx) will probably comment as well, but most "good" CoC returns are in the 6%-10% range.Out of curiosity, did you buy the property for $75k and is the ARV $130k?