You can’t buy individual pads unless they’re separate parcelsFor you to “own” 10 out of 100 pads:The land would have to be legally subdivided into 10 separate parcelsEach parcel would need its own legal description, utilities, and tax IDThe city/county would have to approve the subdivision (they almost never do)RV parks and mobile home parks are almost always one parcel, meaning you can’t carve out 10 lots and sell them like condos.2.

What legal rights do I have?

That is in effect what you are doing and f you do not include PM fees in your underwriting.Your maintenance/cap ex fees is likely too low by a factor of 2.You are missing the misc charges like asset protection, bookkeeping/accounting/tax man, utilities due to property issues such as by a slab leak, legal/evictions, etc.The 50% rule is aggressive at this rent point and projects $82/month of cash flow.  

Situations involving inherited property can be emotional and legally complex, so taking a breath before moving forward is smart.That said, opportunities like this can be great if handled correctly.Here are a few things to think through:Who legally owns the home right now?

Mold concerns can quickly turn into costly repairs and legal issues if not handled properly.

Wisconsin Legal Blank is definitley a better choice. 

Last year I spent $5k on legal.  

Can I cite my impression and complaints by the other tentant to establish whose dog is at fault, or can they just deny that their dog did it and I am then stuck with a he-said/she-said situation? 

If all parties involved are informed, including the lender, this is 100% legal. 

You also have to consider the legal side.