On the sell side, my local properties have performed great with no hurricane risk.Mother Nature can be unpredictable and impact RE performance, time required, etc. 

And in many cases you're able to write off almost off of the income from the DST against depreciation because of the nature of the non-recourse loans and your ability to buy additional depreciable basis.

Especially by the third contract it would be natural for you to react in either of the above ways. 

The big differences are that RV parks are typically amenity rich which requires more overhead, can be seasonal in nature (but not always), require a nearby destination to work well (as opposed to employers), and use values that are typically 2 points higher in cap rate.

Great job on incorporating search data which I personally think really brings an extra dimensions that investors mostly overlook.

The CC&Rs and articles of incorporation are like the Constitution, then Bylaws, then Rules follow. 

I see your point, but it would suck to really start making some headway and then one "accident" cause you to lose everything simply because you didn't take the time and spend $200 to incorporate

The area is geographically restricted and naturally prevents urban sprawl like in other markets.

If the dynamic had been as simple as "you need an LLC" I would have gotten one for them, in fact Renovo pre-approved me but did require an LLC prior to closing, in Illinois can be done on line and I think it a 10min form to complete, $150 fee to expedite and I had my Articles of Incorporation the next day. 

I will probably never do the credit card thing, but I’m also conservative my nature.As an example of my conservative nature I’m already paying down mortgages that have a 5 percent interest rate.