We also plan to increase lot rent yearly or every 6 months depending on lease structure.

The renter should be paying the rent and possibly utilities depending on the lease agreement with you responsible for PITI. 

I would say no depending on your experience.Unless all CAP Ex has been completed, there may yet me more large expenses. 

All depends on how the deal was put together.Jeff V

Depends on if the cost and time are going to be worth it for you.

Without cause is better but if it is with cause- it will depend on the terms that you agreed upon.

Depends where you are and what the laws or zoning says. 

You typically have to have a connection/know someone in order to get them to do that, but of course it all depends on the contractor.

Possibly transfer taxes, depending on the state.

It depends on your investment strategy.If you invest for cash flow (like I do), then absolutely not.If you invest for appreciation, then analyze it based on that (and only on that) and decide accordingly.