Ultimately, structuring future purchases under the LLC can streamline tax reporting and potentially allow for more deductions and tax benefits if the LLC grows and qualifies as a separate business entity.The lender will not directly finance property in the LLC most of the time.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

As a novice manager and ultimately new to the processes as a whole, any history of eviction that is recent enough to be on-record (last 7yrs) is scary enough based on precedence alone... 

You have ultimate responsibillity for what is reported on your return.

So, as you note, hopefully there is still enough liquidity/cash flow in the deal to keep it afloat long enough to ultimately pay off (or at least make all your money back).  

Year 1-3.We have 4 kids all older between the two of us.Our ultimate goal is retirement and generational wealth.Each kid will inherit one duplex and we want to teach them as much as possible.Does this sound like a good plan,Or am I missing anything?

I happened to be at an inspection yesterday for an investor that will be closing on his first quad in Jacksonville in 3 weeks.As for where, I think the choice between those two markets is easy.  

The year the mobile was built affects the choices.

Ultimately the more value you can add to the transaction the more favorable of terms you can negotiate in a partnership.