In my analysis, I utilized a 40% assumption as a baseline, though I acknowledge that this may underestimate expenses for a park with the characteristics you’ve described.

That comment also seemed to imply that you don't report the rental on Schedule E if you have an LLC, but that's not correct, with a single member LLC it still goes on Schedule E."

This property is gonna cash flow over $1000 a month after we're all said and done with utilities mortgage and more.

Some expenses, such as utilities, property taxes, and interest, incurred during this period may also be capitalized.

Another single family house had two front doors and they assumed it was 2 units, it was not. 

I currently have a duplex in Milwaukee and am living in a single family home that I plan to turn into a SFH rental.

Quote from @Tyler Kesling: Not to drag this thread out indefinitely but if I were to take your advice and start small, is it the dumbest thing to 1) Hire a PM on a single fourplex and 2) Do a HELOC into a DSCR?

Asking me for LLC docs few times over and quoting on a rate sheet that was for single family and not town house.

I can only speak regarding structuring the deal as I have not utilized partners personally but it really can be anything that you want.

And yet every single tenant that stole appliances would be found guilty.