On a $700k park bought with bank debt, plan on 25% to 30% down, so $175k to $210k. Closing costs on a commercial loan usually land around 2% to 3% of the price once you count the appraisal, the lender's legal work and the title work. Then due diligence, which you spend before you know if you're closing: an environmental screen, a survey, and someone to camera or at least locate the sewer lines commonly totals $8k to $20k depending on whether the utilities are private. And an operating reserve, because a well pump or a water main break in month two is normal. Add it up and $700k needs something like $220k to $260k liquid to be comfortable rather than lucky.
Seller financing is genuinely common in this sector, because most parks are owned by individuals who have held them for decades. Terms vary enormously, down payments in the 10% to 20% range are more typical than nothing down, and the note has to be papered by an attorney in your state. It doesn't remove the due diligence cash.
25 lots isn't too small to own, it's small enough that no third-party manager will take it at a fee the park can afford, so you'd be doing collections and rules yourself or paying a resident manager with a lot rent credit. That's the tradeoff against your "no second company" goal.
The part worth checking before you offer on either one: how many of the 25 lots are occupied by homes that are actually habitable and titled to the resident, and who pays for water and trash today. Those two answers change the price more than the cap rate does. If you want the truly hands-off version, passive positions in park funds exist and typically start at $50k to $100k, with no control and no promise of any particular result.
