buying campground

jkhorner wrote:
We want to make our own and not just buy someone else's dream. So either closed or run down is what we want.

There are plenty of parks that are that are begging for a makeover. It's what I do, and it can be very profitable. Buying an existing and operating park allows you to have cash flow from the beginning. Unless you are really planning something exotic, you are going to want much of that existing customer base. It makes a lot of sense to find something that meets your structural needs (location, size, etc.) and then build from there.
Buying a loser or something already closed is going to be a financial struggle, starting with financing and continuing with low cash flow. Unless you have renovated a park or two, you probably have no idea how much it will really cost. There will always be hidden defects and much of it will have to be paid for out of pocket, you won't be getting loan after loan to cover all the unexpected repairs. Having cash flow from day one sure mitigates those added expenses.