We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

This structure also provides an added layer of protection for your personal assets in case something happens with the property or other business liabilities.Estate Planning: By having the property under your LLC, it can simplify the process for your heirs and ensure that your real estate assets are managed in line with your wishes.

So I have begun to invest in the farm.

I can't talk price, I don';t even know I just signed up, added a VA account, a 2nd zip and am working leads.   

New signage, added gravel to the park, updated some of the homes, fixed electrical breakers for RV hook up sites, created a website and advertise online.

@Jeremy Altdorfer  Just adding to the above, the rent should be on Sch E of their tax return. 

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

If you’re doing everything correctly as it seems you should be fine and again there’s nothing wrong with adding the management LLC but don’t expect additional liability protection as a result.

In anything, people are always the biggest variable, so it can happen to anyone, but adding in a variable of someone you don't really know exasperates that risk.If you just want "boots on the ground," hire a local property management company, and don't go with the cheapest option.

I am assuming that you could not.At the great recession there was years of significantly adding to the housing supply.