Seems sort of counter-intuitive.  

That makes intuitive sense, but there is something about that also feels funny - an LLC is supposed to protect your personal assets.

So sounds like my first intuition of making a new asset then depreciating was correct?

Housing shortage, if there as you describe intuitively (can verify with Census population and housing units data), would have made the place less overvalued, though the above 7% should reflect it due to using a trailing historical average in its denominator.

We own and manage multiple mobile home parks and have found Rent Manager to be a very capable software, although it's not as intuitive as some of the others mentioned.

I also liked Intuit's payment solutions.

Again, after a while you'll just start to intuitively know if it's possible/probably to get $1,500 rent for a home in ____ township.  

I have found their interface super intuitive and the app is easy to use.

My initial intuition was not to invest near these developments because of over-competition.

Please do some online research on this; from Intuit:"If you are receiving the promissory interest, enter it as if you received form 1099-INT.