Ben does a good job of outlining a good way to get into vacation rentals without putting all your eggs into one basket. 

@Jeremy TaylorI’ve done a few BRRRRs and learned my lesson on the first one: always prepare an appraisal packet which outlines comps, why they are good/bad and what adjustments I would recommend, as well as all info regarding the subject property.

Your state codes outline your responsibilities.Dead tenants rarely complain.When a relative accepts the responsibility of taking the ex tenants property I have them sign for it and I photo copy their personal ID.

Hopefully the terms of the lease were outlined clearly, providing you protection.

@Courtney Johnson, if you're interested in Kinston, there's a larger park that I believe is still available (~$400,000) and would be a much better deal than what you've outlined.

The reason is that the price range you outlined is likely to put you in C or worse areas and those can be very difficult to manage effectively. 

You need to outline your roles and responsibilities of the company that you're forming. 

Outline where you want to be in five years.

I could connect you to some lenders to work with, who can at the very least outline a path for you to get approved in the future. 

Please correct anything I may be overgeneralizing or just out right wrong.I need to get a form that outlines all of the general cost categories so I can begin planning the management of those aspects and of course using that to analyze deals.