BiggerPockets

Location is Key- rural areas, lot rent can be as low as $100 per month. Near the beach, $300 and up can occur. $530 is a lot, but if the avg. rent is &850 and up, your spread is not that bad. The problem is that a couple mos. vacancy will eat up your profit.

You could sell on a lease purchase and buyer pays lot rent, you clear the rest, or just rent.
I would also collect 1st and last month along with a security deposit, can't afford bad tenants with lot rent so high.

Lot rent is W. Michigan run from $275 to $450 pr month with the average lot rents running $325. I have found the key to making Lonnie deals work in my are is to make sure that we can keep the lot rent and home payment combo competitive with market rents. There are a lot of folks that would rather have a yard and nobody above or below them that will buy a mobile home if you can make it affordable.

I hate to say it but, it's not sold until you have that down payments in hand and they are approved by the park. I hope this works out for you. I wouldn't take any less than 10% down.