As long as I understand the risk and mitigated the risk with sound exit strategies, I can let people live in my properties and I haven't had any losses yet.

I’m self managing myself but the tax side of it is a little confusing to me but I’m recording everything involved as far as maintenance, traveling, expenses etc. just want to know what some people would do in my situation or what to I can benefit from come tax season  @Angelo LlamasI recommend that you find a real estate accountant to help you understand and prepare your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

@Alex R.I would be weary of anything involving Suncoast Property management.

If you proceed, understand you will most likely GET LESS for your property with a tenant as opposed to vacant.Why?

they said around 90% of market value.I tried to get them to understand that this property needs a LOT of work, almost a full gut, some holes in walls (small) old carpet needs to be ripped up, i mean like the works on this thing, you can prob get away with touching up the kitchen since its real hardwood and the bathrooms as well but this prop needs at least 80k.Found out owner actually owes 140k on property, and zillow is zestimating it to be 127k.

If SF can be turned around, I think it could make a lot of sense if you understand the intricacies and can put up with the tenant/landlord law for the long term.  

Real estate is a long term game once you understand that it gets easier my friend .

That's the first place to start.I can tell you what to invest in and where - but you won't listen unless you really understand this business first.

I've searched around and think I do understand how it works, but do you know any good resource that I can get more if not at least the accurate information on it?

Properties typically on a land lease in communities like this are more difficult to get financing on - so not only check the values but also time it takes for these properties to sell to understand your holding costs