I always advise to buy your own title insurance from your own title company......their’s is not really “free”, they add a bunch of junk fees and they routinely only search for “recoded” liens.

I routinely get better than the 1% rule on all mine.

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

@Jingwen Dunford If your park is big enough, you may want to look at hiring a full-time employee to help with any routine maintenance and repairs to the parks.

Thank you, very helpful information, have been routinely excluding properties with HOAs in my deal search just because the major cash flow hit, but will incorporate this advice and maybe start looking at some properties with HOAs as long as numbers work out and HOA governance/regulations are favorable

But meeting a few handyman's, this would be important.Plan on making routine trips to visit the properties. 

We routinely see bad bookkeeping, questionable (or optimistic) rent rolls, and all manner of numerical freewheeling in financials, so make sure the numbers are accurate, and then, check again.  

I think it really is about creating a routine to get the most out of the time you do have. 

Eventually you get into a routine where you have good tenants that mostly pay on time.

Overall the structures seem to be sound (inspection next week should tell us a lot more), and it appears that most of the routine and annual maintenance has been done to AC units and other aspects.