I think the overall trend is what you’re doing isn’t sustainable from a simple regulation perspective.

vacancy is an imaginary cost that you estimate upfront to ensure your investment can sustain itself and actually make money. you do not need to put aside any amount of money every month, as long as you have a reserve account with enough to cover your mortgage payment when the time comes. to make life easier, some investors will put this percentage aside every month to fund their reserve account, but it truly can come from your pocket, a line of credit, or any other vehicle you use.

Keep in mind that we were in a market that was not normal and not sustainable we are just retreating back to a normal market were market time is normally 90 days for DOM .. that's been more normal.. its not normal to list a property and have 17 offers first day.. and along with that its the time of year it always slows down right about now.. the turn key folks I know though are still plowing through their inventory.. as investors are buying for cash flow and as long as the numbers work they pull the trigger.

That being said, I never really analyzed it in that manner. 

You will definitely want to get residents on the new lease agreements so that you can manage the park in a professional manner and enforce rules.

I believe other major cities are reacting in a similar manner. 

Tenant agrees to pay for repairs of all damages that they or their guests have caused.Landlord agrees to initiate repairs in a timely manner following discovery of the damage or can choose to defer repair until Tenant has vacated the premises.

They are paid by the sole owner through their quarterly estimated payments and annual tax returns.From the IRS website:An individual owner of a single-member LLC that operates a trade or business is subject to the tax on net earnings from self employment in the same manner as a sole proprietorship.

I haven’t tried or used one in that manner. (3) If you were to use hard money first, and then refinance into a conventional mortgage, your payments would be high initially, and then reduce.  

Would love to hear more about how you decided to get started and whether you see STR as a sustainable long term strategy.