In the next 1-5 years you could have some serious cashflow - why would you care about the associated taxes?

A few ideas:I would start by asking the tenants if they really care about the utility costs since Landlord is supplying the appliances.

Taking care of someone's asset is a responsibility that you should not take lightly. 

Yes, it's easy to ask you these questions after the fact, but you won't succeed unless you carefully review your mistakes and learn from them.Not sure I agree with your statement, "RTR knew they’d messed up".

In my experience, if you take care of the tenant you will likely see that average to be true.  

Purchase price: $381,600 Cash invested: $531,600 We purchased this adult care home for $381,600 on the market.

@Alex ThomsenThat is Way too much and also in North Carolina there is some weird due diligence fee that is not refundable so be careful.

And it also means to attack everything like it's your Mom's, like it matters, truly matters, because if you only care about a paycheck you are not serving your looking to be served. 

Chimene Van Gundy carefully crafted a public persona as a successful buyer and seller of mobile homes before a judge appointed a receiver to take control of her New Braunfels company and she filed for personal bankruptcy last month.But during a bankruptcy proceeding Thursday, she couldn’t recall any particular deal she did to get people to invest with her or that led to her becoming known as “the Mobile Home Millionaire.”

You can then check with the local county if the deed is in fact in that name (caution: if the property was bought recently, the county may not have caught up on the paperwork).Just be careful and NEVER give any form of cash to the seller, always send EM/downpayment to a title company that you have verified.