@Femi IbrahimYour post-mortem is spot on. 

This is basically how mobile home parks usually work where the person owns the mobile home and rents the spot.

Just out of curiosity, do they have specified golf cart parking spots near the beaches?

Locate a sweet spot.

Being at a similar spot in life, I work and manage a fund and most of my personal investments are now very passive. 

Downside is if not fill 3 open spots will be under about $1000 a month.

The problem is that there constantly seems to be fees being charged to me an example of this is in the contract  there is an additional 100 dollars allocated to sewer and water that the tenant automatically pays every month with rent and anything outside of it should be billed to the customer (there is no specificed time when this will occur on the contract) but it appears to be billed to me and after speaking to IIP it's like they made up rule on the spot stating that after 6 months all of the additional utility fees would be billed to the customer and in the meantime I am being charged for it.

So far there has not been any unpredicted capex expense or maintenance as the inspection was pretty thorough we were able to spot all the issues and were able to get $100K seller credit instead of getting it repaired by the seller.

@Chris Seveney yeah you’re spot on.  

I have seen as low as 10% and as high as 40% though so if you truly feel 30% is the sweet spot for you, stick to your guns!