I own some acreage across the road from my home and would like to put 2 mobile homes on it (2 are allowed by Parish/County). The land is paid for and has a water well on it. The plan is to borrow money from a HML to put in the needed infrastructure such as culvert at the road, septic, water lines, power poles, & gravel drive. Once that is completed, I'll have two used mobile homes moved onto the property and begin renting them. I don't want to screw this up and end up in worse shape than we're already in, so I need advice.

I gathered rental amounts from every local source I could find within a 60 mile radius and converted each of them to a square foot price. I averaged all of them (about 50 locations) and the average rental price in this area is .80 cents per square foot of space. I've priced my rents at .70 cents per square foot (16x80 trailers = 1280SF each) in an effort to be below the average - to ensure occupany. I've plugged in 10% interest because I know my credit is too poor to get a bank loan and my hope is that a HML will look at "the deal" rather than my credit and I expect to pay higher interest rate, but I have no idea what HML may expect.

Not sure what additional information might be needed to make a good decision, so I'll do my best to answer any questions.  Thank you all, in advance, for your guidance.