Quote from @An Lan: I am not a professional real estate investor, I just invest in houses as a safe asset and do not choose to rent them out.

Get a signed bill of sale including the furniture at closing for tax depreciation.Communication is key! 

I will have a contractor do most of the work from now on Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If the signs point to selling, consult your CPA about the tax implications.

The land assessment value is on the tax assessor's site in every county, but that doesn't hold a ton of relevance in my opinion.

Ferd Niemann is a popular lawyer for MHP transactionsMake sure to take your due diligence very seriously and get professional help if you don't have experience here.

But weigh the costs of insurance and taxes against the cash flow and make your decision accordingly.

An LLC doesn't make a difference in your federal taxes or what you can deduct.What you want to do is technically possible, but there are several hurdles. 

So I do not have a tax filing with the rental income on it yet.

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate) AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.