When looking at mobile home parks you’ll want to get clarity on a few key things: are the homes tenant-owned or park-owned, what’s the current occupancy and market rent compared to what tenants are paying now, what’s included in the rent (utilities, lot only, etc.), and what the infrastructure looks like (sewer, water, electric) because those systems can make or break the deal long term.

Fargo is not a Vacation-market...it's a Utility Market.

it looks like you're borrowing over $400,000 and at 10% interest and that's over $3400 a month  alone and just interest charges and then on top of it you've got utilities, you got prorated real estate taxes and what about fire insurance, etc ?

Specifically:What were your biggest challenges (zoning, drainage, ventilation, fire code, utilities, tenant improvements)?

You made a great point about utilizing a professional for STRs, there’s definitely more turnover and moving parts, so it makes sense to hire a manager.

My initial thoughts after purchasing the land is to get it prepped for build, doing everything from perk test to septic permits, getting utilities and everything ran to the property to do a lot of the headache work that the general contractors and builders would have to do.And this is where I get a little stuck - at what point in the deal would you receive your payment?

Don’t just estimate reno — add in taxes, insurance, utilities during rehab, interest (if you’re financing), and realtor fees.Use conservative ARV comps.

Getting past the method of utilization of the equity in the rental is the first hurdle I would like to figure out how to solve with everyone’s help.

What resources do you recommend I utilize as I begin this process.

If medical collections are hurting the score, I have let that slide; if it's a utility collection like phone or electric, that is a red flag for sure.