The simple answer is that now is a great time to throw up any vacant rentals that you have coming up.

Hey @Corie Carpentier,Consider how to get the seller to throw in additional concessions that give you more value than they lose.  

I'd prefer to not poison our guests if we can get away with it lol.I think we have our options for bedding sorted out (bed and pillow covers) but are looking for options besides fogging for the room in general.Does anybody have experience with this?  

As for how hard it is.. that goes without saying there is nothing tougher in the real estate game than this.. simply because you need to be proficient in all aspects  of the transaction.. so I guess you just have to decide which slice of the apple you want and how much capital you have to throw at it .. how much time you have and your sales and closings skills.. which again listening to the guys in the room these were no wallflowers..

If you are going the LLC route you can put them all under one policy but I would highly recommend throwing an umbrella on top of that policy.Something to keep in mind with insurance and condos.

I wouldn't want to run into an issue when I refinance where I would have to throw more cash down.

don't forget about mowing, snow plow/salt, some turnover, taxes for your manager/workers comp, free lot rent, money for your management time, accounting software, LLC set up cost Your going to have more of a greeter in a park like this, which would be free lot rent only and maybe $5 a lot...smaller parks have really thin margins...if you have 2 tenants move out, die, leave town, get arrested, whatever, you then lose 14% of your tenant base and monthly income for the property, get to 5 tenants and your at 40% which could throw your loan into nonperforming very quickly unless your willing to come out of pocket on something like thisjust to show your top gross revenue will never equal 40,000(210*14*12=35,280)just do your diligence and i wouldn't pay more than 200k for something like this...and thats a stretch or if there willing to carry some of the papersomething this small, don't turnover to a property management company because they don't know what their doing normally with a park like this and their going to charge 10% of revenue probably.

Leslee, I can recommend the following folks in the Phoenix area;Inspector:Jim Petko, CPITitle:Lawyers TitleDebbie Fulleror call Debbie RogersGeneral Contractor:Fix-My-HouseI know you didn't ask for the other two, but just in case you don't have a repair person or a title person (two of the most important members of my team), I thought I'd throw them in too.

I'm curious as to what the best strategies are for identifying potential properties, how to approach the homeowners (letter, door to door, a written offer, etc) and how to write a fair and solid price (I'm thinking full price offer based on comps minus 6% because of no commission but throwing in some cash or creditiing closing costs to the seller to sweeten the deal a little bit. 

You can throw away the 1% rule in the well-known areas and neighboring cities.